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Insights and opportunities for the future

Profiles of the top 100 brands
Focused industry reports
www.interbrand.com

About Interbrand
Interbrand began in 1974 when the world still
thought of brands as just another word for logo.
We have changed the dialogue, redefined the
meaning of brand management, and continue to
lead the debate on understanding brands as
valuable business assets.
We now have nearly 40 offices and are the world’s
largest brand consultancy. Our practice brings
together a diverse range of insightful right- and
left-brain thinkers making our business both
rigorously analytical and highly creative. Our work
creates and manages brand value for clients by
making the brand central to the business’s
strategic goals.
We’re not interested in simply being the world’s
biggest brand consultancy. We want to be the
most valued.
About Best Global Brands
Voted one of the three most influential benchmark
studies by business leaders, Best Global Brands is
our annual report published in partnership with
BusinessWeek on the world’s most valuable brands.
It offers our insights into how these global
organizations create and manage brand value.
We pioneered the technique for valuing brands
in 1984 and have continued to improve upon
our methodology and set the pace for other
approaches. Our valuation techniques have long
been recognized by businesses, academics, and
regulatory bodies as uniquely valuable strategic
tools. Today, we have conducted over 5,000
valuations for clients to provide guidance in
managing their most valuable asset–their brand.
Contents
Past Present Future 2
A perspective on global brands from our Chief Executive, Jez Frampton.
The Cleansing Fire: The positive power of boom and bust 4
2008 was a year of bad medicine, but there are opportunities for
advancement and reinvention.
Are You Building Brands for a Seamless World?
How brands can take advantage of the Internet as a business accelerator 6
Your customers want in, but how should you proceed?
Acting Like a Leader: The art of sustainable sustainability 8
Corporations must start actively integrating and managing sustainability
as part of their business strategy and deliver it through the brand.
Shifting Attitudes Towards Wealth: A return to luxury’s core values 10
It’s about depth and substance, not breadth and surface.
The Experience Revolution: Brands that touch the five senses 12
Brands need to get back to basics and create more multisensory experiences
to fully engage with consumers.
Decoding Shopper Behavior: Creating a memorable retail experience 14
Shoppers’ attitudes towards value have rapidly shifted. Brands need to adapt to
entice them through the doors.
Driving Demand Through Creativity: Lessons from the best global brands 16
Powerful brand ideas should be expressed at every touchpoint.
Tomorrow’s Brand Leaders: Up-and-coming global brands 18
Find out about the fast developing market brands that are on the horizon.
Best Global Brands: A 10-year retrospective of the top 20 brands 20
A decade of valuing brands reveals opportunities for the future.
Best Global Brands 2009 22
Interbrand’s method for valuing brands and the profiles of the top 100 brands.
Industry Insights 50
In-depth reviews of how each sector has performed.
Contact Us 64
Details on how to reach us.
 Past
Present
Future
The economic events of the past year are beyond all previous
experience, unless you happen to remember the 1930s. We have
watched the markets repeatedly decline, mainstay businesses fail,
and unemployment rates approach record highs. To say it has
been a difficult year is a huge understatement. We are only now
seeing the first signs of improvement. Although many questions
remain unanswered as to whether this is the start of something
long-term, or simply a temporary respite, one thing is for certain:
There is still a long and unknown road to prosperity ahead.
The world is changing and we are collectively resetting our priorities.
Surely, these changes are presenting the most potent opportunities
in living memory. Indeed, it is an exciting time.
The most apparent emergence is a new moral standard on business
behavior and risk. It seems that on a daily basis we are redefining our
expectations, setting new standards of transparency, and increasing
our ability to interact with one another globally. Our tolerance for
both companies and individuals to say one thing and do another is
rapidly diminishing.
It’s all about trust
In times of rampant change, brands remain a powerful source of
continuity and trust. While this year has been a difficult one for
brands and entire categories, the fundamental purpose of brands is
to create loyalty and preference over the long-term. Brands provide
a degree of security in times of economic instability; and in times of
prosperity, brands offer opportunity.
Words like trust, permission, clarity, and consistency, seem more
meaningful than ever before. Brands reduce risk and it was risk that
got us here in the first place. In a post-economic crisis environment,
we will think twice about the relationships we took for granted in the Regards,
past. That’s a massive opportunity for brands that embrace values
like trust, permission, clarity, and consistency; and a huge threat to
those who fail to live by those standards.
Brands in the new age of responsibility
While no one can say with absolute certainty which brands will
lead in the new economy, we can look to our 100 most valuable
brands with a degree of confidence. In the pages that follow we
offer Interbrand’s view of how brands will thrive in the new economy.
In a decade of valuing the Best Global Brands, and nearly four
4 I Interbrand Best Global Brands 2009
decades of consulting for many of the world’s most recognizable
brands, we can say with certainty that brands seem to matter more
to business success with every year that passes. This trend is evident
and there are a number of opportunities we can point to for how
brands are faring in our fast changing world.
From a consumer perspective, there are two trends that stand out
above others. There is an increasing requirement for brands “I can
trust” and an exponential shift in social and consumer networking.
Our declining trust in governments and institutions over the past
three decades is fast being joined by cynicism towards business, and
financial businesses in particular.
From a corporate perspective, the demands for responsible and
sustainable activity will only increase over the coming years. We
are all pushing towards products and services that fulfill the most
comprehensive definitions of what we might say are highly abused
concepts. The broad and unclear use of “sustainability” to encompass
everything from carbon footprints to eco-friendly packaging will be
met by the transparency of the Internet. As such, brands and the
businesses that manage them will not have any place to hide.
Finally, from a competitive perspective, tough markets demand
differentiation and value-add like never before. If your brand isn’t
clear and compelling, you will quickly become lost in a sea of
price-based competition. As if that isn’t enough, the economic
realities of late will accelerate the gravitational shift towards the
fast developing markets.
In this new global economy, there are opportunities as well as
difficulties out there for all of us. The strong will survive and that
may be enough. The best, however, may even prosper.
Jez Frampton
Global Chief Executive
Interbrand
Interbrand Best Global Brands 2009 I 3

The Cleansing Fire
Opportunities for advancement and reinvention
By Josh Feldmeth and Helen Isakovich
2008 was a year of bad medicine. Yet for all its very real economic pain,
there exists within the crisis an opportunity.
Remember the last time you needed cough medicine and the store
was out of your favorite cherry flavor? What a nightmare! But you
took it anyway, because medicine, even if it doesn’t taste great, can
heal. 2008 was a year of bad medicine.
Yet for all its very real economic pain, there exists within the crisis an
opportunity. It is the permission to change, the necessity to innovate,
and the potential to find new, robust undergrowth beneath the
current fallout zone. For many brands, 2008 will prove to be a cleansing
fire, one that created competitive distance for the strong and
provided a chance for the weak to cast off the strategies, inefficiencies,
and cultures that have kept them down. So what lessons can we learn
from the cleansing fire, both from today’s crisis and its predecessors?
Lesson 1: Emerging from the smoke requires
a clear focus
The fashion retail megabrand baton has now officially been passed,
from Gap to a couple of much stronger European players. In the past
two years, Zara has surpassed Gap and H&M to become the largest
retailer in both the U.S. and Europe, while H&M earned its place
as the top retail brand in the world. What’s the common thread?
Focus. Zara is best known for supply chain innovations that bring
new fashions to market in lightning-fast time. But there’s much
more to Zara’s success.
Zara has a clear vision for what the brand must deliver: styles that
are fresh off the runway, a constantly changing assortment that gets
customers excited to shop often, and a sense of urgency to quickly
buy before stores sell out. Everything Zara does supports this vision.
From its supply chain that produces new styles on a weekly basis, to
the collaborative design input drawn from market specialists, buyers,
designers, and front-line employees, to impulse-friendly price
points–Zara clearly delivers its brand vision.
Then there’s Gap. Years ago, Gap occupied a global positioning as a
fashion staple. But this once iconic brand has lost this positioning.
Why? A lack of focus. Assortments have consistently missed the
4 I Interbrand Best Global Brands 2009
mark and the brand did not evolve with its customers. Marketing
dollars, celebrity endorsements, and even the RED campaign failed
to reinvigorate consumers who found fashion-forward, lower-priced
options at Zara and H&M much more appealing.
Apple is the classic example of retaining focus through market cycles.
From the MacBook to the iPhone to the iPod, Apple’s products and
services all build on the idea that “man should not be subservient to
machine.” This strategy has allowed Apple to thrive even in economic
downturns, and it’s a lesson for Gap. Had it not lost focus on the
brand, Gap’s core equity of “essential style” likely would have served it
well through this most recent crisis.
Lesson 2: Invest more, not less
Pop-quiz: What do a US $19,000 Rolex gold watch and a US $19
bottle of Tide Ultra Clean Breeze scent liquid detergent have in
common? Answer: just about everything. Dominant market shares,
a clear brand image, irrationally devoted fans, price premiums, long-
term growth, and so on. Completely different categories, but with
identical results. What’s the secret?
Everyone knows Rolex as a triumph of Swiss precision. Not everyone
knows that Tide is biochemical masterpiece, without technical
peer in the detergent world. This is the point. Behind both of these
strong brands are unquestionably strong products with a tradition of
innovation. And they continue year after year to invest in customer-
focused innovation. Do you want an iconic global brand? Then never
stop innovating.
The crisis has been tough, but the best brands continue to leverage
and improve their strong products. Heinz invested in consumer
health and wellness. Kellogg’s leveraged worldwide innovation teams
to ramp up quality. Campbell’s strengthened its iconic brand by
going low-sodium. Duracell rediscovered the emotional consumer
territory of the premium battery segment. Kleenex brought the
private label fight directly to consumers through its “feel the difference”
campaign, and sales are up 30 percent in developing and emerging
markets. Like P&G with Tide, these high performing consumer
brands have fared well through a difficult year because they have
the goods: demonstrably superior propositions fueled by years of
consumer-focused innovation.
A lack of sustained investment will eventually show itself. Take the
bottled water business, a category facing declining demand. Nestlé,
the global leader, is pulling back on category investments, marketing
2009 as a year of “stabilization.” It’s unwise to criticize from the
sidelines, but considering the mounting pressures in the category
and the examples of Heinz, Kellogg’s, and others, now would seem
the time for more boldness not less. For example, a strategy like
local sourcing could differentiate the brand today and grow its
long-term value tomorrow.
A precedent was set in the late 1980s–1990s recession when Nike
was a secondary player in its market. Unlike Reebok, which cut
costs to survive the recession, Nike took an aggressive approach,
tripling its marketing investment, strengthening its brand, and
growing sales from US $270 million in 1985 to over US $3 billion
in 1991. By the end of the recession, Nike’s profits were nine times
higher than before it began, leaving Reebok well behind.
Lesson 3: Be consistently committed to renewal
By now the GM eulogy is common knowledge. From Fortune 100,
to bankruptcy; from 50 percent share, to somewhere behind Toyota.
From the company that once sold half of the cars on block, to the
company forced into a yard-sale with Saab, Opel, and Hummer. 2008
marks the end of the torturously obvious yet somehow inevitable
collapse of an industrial powerhouse.
But even bad medicine is still medicine, and the crisis of 2008 was
just what GM needed to put its now-smaller house of brands back in
order. For its next move, GM should look to Toyota, a company that
not only eclipsed GM as the largest auto company in 2008, but also
a brand that lives the principle of renewal.
Today, Toyota represents value, reliability, and green innovation.
Previously it stood for small, defect-free cars at a good price. This change
is the result of a commitment to brand renewal. From the product of
Japanese Total Quality Management, to the life-affirming optimism
of its “Every Day” campaign, to its current incarnation as the harmony
point between “man, nature and machine”–the Toyota brand, true to
its current tagline “Moving Forward,” has continued to evolve.
GM was incapable of renewal and it bankrupted the company. But
the market has now brought GM the medicine it could never find
within. It has forced GM to reform. GM has been gifted a chance to
jettison brands that it has never understood (Saab), those that had
lost their way (Pontiac), and brands that had never found a second
act (Saturn). This is a moment of creative destruction: a chance
for GM to clear its head of a really big hangover (Hummer), make
sustainable arrangements with unions and pensioners, and instill a
customer-value proposition in every part of every car, under brands
with real potential, like Cadillac and Chevrolet. Sure, tough medicine
for GM. But 2008 very well may prove to be the refiner’s fire in which
GM forged a new and essential discipline: brand renewal.
Lesson 4: Strong brands grow from the core
McDonald’s made fast food a staple of the American diet and evolved
the McDonald’s brand into a global icon. But its crisis predated the
current credit crunch. Obesity, diabetes, heart disease: a public
health outcry and the perception that fast food restaurants were
largely to blame.
McDonald’s was forced to reevaluate its core as the external tagline
“I’m lovin’ it” did not explicitly deflect the image of overindulgence
in tasty (but unhealthy) foods. McDonald’s responded by articulating
a brand promise. “Simple, easy, enjoyment” expresses the classic
McDonald’s proposition–good foods, delivered quickly, that keep
consumers feeling young. But it goes further by giving the brand
permission to translate that promise into something more relevant
for today–fresh salads, new store formats, and better coffee.
McDonald’s has successfully evolved because it grew from the core.
What about Starbucks? A brilliant core idea: baristas, coffee theater,
a lounge-like environment. “Your third place” captured the essence
of the brand and allowed customers to experience coffee in a revolu-
tionary way. However, the urge to grow outstripped Starbucks’
home turf. Stores spread like wildfire, and so too did its menu of
offerings. With line extensions in sandwiches, smoothies, hot and
cold breakfast options, and snacks, it became difficult to see how
Starbucks was any different than the millions of deli-style venues
around the world.
In 2008, Starbucks returned to its roots, rehiring former CEO Howard
Schultz and tasking him to close stores, slow expansion, and get back
to basics. However, these changes are still not apparent in-store and
it will likely take time for Starbucks to reoperationalize its assortment
and customer experience. Will it be too late, or will this cleansing
fire return the brand to its former strength?
The cleansing fire of 2008 presents strong brands with an opportu-
nity to advance their lead and gives weak brands a means by which
to reinvent their business and brand strategies to get them back on
track. History proves that having clear focus, making investments in
brands, being committed to renewal, and growing from the core all
help to strengthen brands and get them through difficult times.
Interbrand Best Global Brands 2009 I 5
Are You Building Brands
for a Seamless World?
How brands can take advantage of the Internet as a business accelerator
By Andy Bateman and Nora Geiss

The Internet has changed the way that people access the world.
It’s an obvious statement by now, almost cliché. But the implications
have not yet been fully realized, because the Internet has so
fundamentally shifted human behavior that it has created not just a
new way to access the world–it has created a new world altogether.
In this world, we are just past the inflection point of a radical evolution to more information, to more people, to more opinions, more often, eyeballs through other channels. And software companies like SAP innovation is likely to destroy your brand, rather than accelerate it.
in the way business is done. Your customers want in. They want to and we enjoy this connectedness with an immediacy, a sense of shared that open up their software to developer networks offer control of Do it only halfway. To truly engage, you have to deliver content and
know what you’re working on. They want to know what your ownership, and a capacity for co-creation that was previously impossible. both product and promotion, because the developers promote what functionality. This is the engine of the new creativity. Make it sleek,
purpose is and what you’re here for. They want to get beyond the they’ve made–using SAP source code–across the SAP Community make it fun, and make it beautiful. If it doesn’t enhance how your
basics of products and services. Your customers no longer just Getting intimate with your customers–let me try! Network and beyond. customers engage with the world, chances are it will fail.
expect to have a hand in how you communicate your brand, but in
how your business delivers. And opening up to this new expectation This heightened access to information and people has increased our All four of these brands (counting YouTube as a part of Google) are in The new rules for building brands in the
of customer intimacy can take your brand to exponential levels of expectations for the level of access we have to brands. That brands the top 10 of the Engagementdb 2009 report (http://www.engage- seamless world
engagement–or completely destroy it. no longer “control the conversation” is old news. What most brands mentdb.com), which ranks the top 100 Best Global Brands in terms of
are still grappling with is the fact that individuals want to have more which are the most engaged with their communities through social For brands that want to take full advantage of the Internet as a
The time to take action isn’t now. It was yesterday. So the question than control of the conversation. They want to influence what they media: blogs, social microblogs (like Twitter), and social networks (like business accelerator rather than a mere channel to market, here are
is, as Twitter would put it: What are you doing? buy; they want to have control of some aspect of production (tradi- Facebook). According to the report, the most highly engaged brands three clear and present prerequisites:
tionally known by the five P’s: Product, Price, Place, Promotion, and (or “Social Media Mavens”) saw company revenues grow by 18 percent
Everything connects Package). They would like to see the imprint of their individuality on over the last 12 months. The least engaged companies saw revenues 1. Have a purpose.
the product or service a brand offers them. They crave social value, plummet six percent on average over the same time period. While Know what value you offer to society, not just to the economy.
For so long we’ve been bifurcating our attention between what’s utility and stylish design, and an experience that makes the products the precise factors of social media use vary from brand to brand, it’s Because people expect you to be of more value than just economic
digital and what’s not. But the truth is that the way people experience and services personal and meaningful. clear that offering control + proactive engagement = financial returns. value, they want a relationship with you based on what you stand
the world is much more seamless. It’s a world in which the regular old for and what you believe in. That’s the basis of social exchange and
analog world and the digital world have come together. This seamless We’ve seen signs of desire for intimacy growing over the past few Why are control and engagement so powerful? Together they help you should build your brand around this on the Internet. It
integration has transformed our everyday experiences and expectations. years, with more and more people opting in to the conversation of to meet and exceed the high expectations for access to forge a truly demonstrates your legitimacy. In the broader sense, it also allows
their own accord to build a deeper kind of influence on the brands intimate relationship among individual, community, and brand. you to facilitate and talk beyond mere products and services.
they love. Coca-Cola has over 3.5 million fans on Facebook who want By allowing your audience to get inside, share in the creative process,
to share stories, add comments, and receive notices (even as simple and co-create, you essentially extend your company to include a 2. Be prepared to talk a lot more about what you are working on,
as “Have a happy weekend!”) from the brand. Zappos has over one passionate group of brand evangelists, who will genuinely spread the not just what you make.
million followers on Twitter, who regularly offer suggestions. good word about what you do because they are part of that process and Recognize that people are not satisfied with being talked at or
Consumers have made the full transition from the days of the 1950s, that product. And in the seamless world, genuine evangelism is king. passively listening; they want to know beyond what’s now to
when people were happy to passively enjoy information as it was what’s next. Foster that intimacy by sharing more than ever
pushed out to them via radio or television. People today have a pro- You must do something–but do it smart before. Hint at what’s alpha, invite feedback on beta, and keep
In this seamless world, you walk into a Starbucks for a coffee and active, interactive, “go find out” mentality. They seek out information the conversation going to facilitate improvement over time.
pluck a new song out of the air with your wireless device. You show on brands, products, and services from multiple (and often third Before you engage, consider these major areas of risk.
up at the Toyota dealership with the exact specifications to buy a party) sources, and explore and challenge this information to create 3. Embrace co-creation.
new Prius–complete with the discount you expect (thanks to Aunt their own informed opinions and make their mark. Do nothing. Sure, brands no longer control the conversation. Opting Embrace the one-to-one, one-to-many, many-to-many, non-linear
Shelley’s note on Facebook) and the financing plan that works best to join that conversation is still a choice. But by opting not to join sharing that is the nature of networks. Prepare your business to opera-
for your budget (thanks to the top three car financing blog posts Interbrand’s 2001 book, branding@thedigitalage, observed that brands in, you do more than sacrifice your voice and your opportunity to tionally respond to the people who want to engage. Offer up control of
recommended by Technorati). You feel complete, furious impatience that recognize this mentality and proactively offer up control of a build evangelism. You become an obvious obstacle to progress with some of the five P’s. Let people try out and make things up for themselves
when it takes three separate tries to log on to the Boingo wireless least one of the five P’s of production better connect with their people eager to opt in to the conversations. They’ll do it with or if you want to engage and succeed with your customers. Let them in.
hotspot at the airport. audiences. This has clearly become truth: eBay lets its community without your acknowledgement that they exist. The risk that they’ll
control price. Nike created NikeiD so consumers could design their loudly resent your resistance is real. If the Internet has taught us anything, it’s that democracy rules. The
The seamless world is an altered state. As David Weinberger notes in own product. YouTube draws more viewers than the big networks Internet and everything on it, is ours. And if it’s ours, then we want to
his book Everything is Miscellaneous, this new way of experiencing the in part by sourcing content from the viewers themselves, but also Do everything–without a plan. By completely giving up control, one risks have a say in it. This is just as true for Facebook with over 200 million
world is not constrained by the same laws of time and space as the because it enables people to view content in whatever place best losing the consistency that is critical to building a strong brand. Steam- users as it is for any other brand. And just because you are an off-line
objects and stores with which we are familiar. Digital removes these suits the need. This includes on a blog, through email, or embedded rolling from analog into digital without a clear, single-minded purpose brand, you don’t get off the hook. So get involved and allow your
physical barriers. Now, we are more intimately connected than ever in a social network page–thus increasing its audience by pulling that your audience can internalize and use to focus their dialogue and brand to really engage.

6 I Interbrand Best Global Brands 2009 Interbrand Best Global Brands 2009 I 7

Acting Like a Leader
The art of sustainable sustainability
By Jez Frampton and Tom Zara
Sustainability has become a catchphrase, applied to anything from cars to
economics to agriculture. It is everywhere: in magazines, newspapers,
corporate brochures, and on the front and back of consumer packaging.
It is used so much and in so many contexts, that its meaning has become
muddled and diffused.
And nowhere is confusion more visible than among marketers.
While many understand the moral obligation of going “green,” most
lack a clear definition of what sustainability means to their brand.
This represents a missed opportunity to create a meaningful
proposition and long-term value.
Sustainability, brand, and behavior
The 1987 United Nations World Commission on Environment and
Development report “Our Common Future” defined sustainability as
“development that meets the needs of the present without compro-
mising the ability of future generations to meet their own needs.” In
other words, behave responsibly, don’t take more than your share,
and put back what you use.
While this may seem like a simple enough request, in reality it
demands a profound change in perspective. After all, as consumers,
we are used to making day-to-day choices based on what we want
and need at that moment, and sustainability demands we do just the
opposite: It asks that we consider our individual actions as part of
a sustainable whole. This is in part, why, according to Deloitte, 95 per-
cent of shoppers say they would consider buying a green product, but
47 percent of shoppers see green products and don’t purchase them.
While changing behavior is no easy task, brands have an opportunity
to help forge a better future. They can influence behavior by informing
the choices we make both rationally and emotionally. Brands have
an opportunity to contribute to the sustainability movement in a
visible and demonstrative way by creating demand for products and
services that better our world.
8 I Interbrand Best Global Brands 2009
Change is also being motivated by profit. ENERGY STAR, the joint Where to start
program of the U.S. Environmental Protection Agency and the U.S.
Department of Energy, helps save money and protect the environment While no formula will be the same for every business, three essential
through energy-efficient products and practices. Businesses have points should be taken into consideration.
jumped on board because of both the cost-saving benefits and prestige.
1. Set the highest standard for your industry.
Lead, don’t follow the pack: how to create the right
sustainability practice for your brand
While there’s no one-size-fits-all formula, you can plan and
execute against the realities of the business that you are in. Your
Regulation, incentivization, profit, raised awareness, and an obligation
goal should be to actively and consistently uphold the highest
standards in your industry and continue to push your success
to do social good are changing the landscape and working together to higher standards. This is the definition for sustainability
to create real, lasting change. Businesses need to act now to create a that’s sustainable.
sustainability initiative relevant to their business, or lose out.
2. Measure the impact of your actions.
Unfortunately, many businesses do not know where to begin when
creating a sustainability practice. A March 2009 National Environ-
This is no small task, particularly in this economic climate when
market values are fluctuating. However, you can measure the
mental Education Foundation Business and Environment Program effectiveness of your sustainability efforts through the impact
study shows that for most companies, there is no single department
that is entrusted with sustainability implementation. In fact, only one
your brand has on influencing behavior. This is where you will
derive the most value.
in 10 employees who participates in these programs feels completely
prepared to tackle sustainability head on. (Fresh Marketing 2008) The 3. Communicate your platform appropriately.
majority want more education and resources on corporate sustainability. Communicate your platform appropriately so that you are always
Sustainability and brand value: a changing landscape
“saying what you do and doing what you say.” Today’s socially
Other businesses have implemented initiatives in a haphazard conscious consumer is increasingly holding brands accountable.
And yet, more than an opportunity, devising a smart sustainability
manner. Feeling the pressure to follow, they have looked to others– A balanced message that communicates your aspirations but
strategy is a necessity. This is because sustainability is not just
the few leaders that have taken charge in recent years–and mimicked acknowledges reality is the right approach.
another trend. A number of factors are contributing to a changing
their practices. While these companies may be getting away with
landscape in which sustainability figures prominently.
riding coattails for the time being, as awareness increases, more
businesses will be held accountable by public expectations and
The first is the increased pressure on individuals to “do good.” This
government regulations. A line between those who are sustainable
was perhaps best distilled by U.S. President Barack Obama when he
and those who are not will become abundantly clear. Businesses that
hailed this era the “new age of responsibility.” His words hit a nerve
have simply “greenwashed”–said but not done–will be identified
with the general public–not just in the U.S. but globally as well.
immediately and cast out, not just by environmental groups, but
by the general public as well. We’ll increasingly see sustainability
Awareness is also on the rise. While purchase decisions may not yet
becoming a table stake rather than a differentiator. Sustainability
reflect this, consumers are thinking about the excesses that led to
will become ingrained in the fabric of how all companies do business;
today’s economic situation and are actively beginning to seek out a
they will not be able to do without it.
“less is more” lifestyle.
That’s why it is so important to craft a distinctive, relevant, and
Even more than raised awareness, regulatory pressure is forcing
lasting sustainable proposition that will differentiate your brand. Do
more organizations to conduct business in a sustainable way. As a
the right thing and do it right. It is not about saying that you are going
result of these regulations, sustainability is even becoming a cost of
to build a proposition that separates you from the rest; it’s about building
entry to doing business.
a proposition that is right for your brand and relevant to your industry.
This is evident in Europe, where, 14 years ago, the packaging directive
Sustainability through the lens of brand
known as 94/62EC proposed new restrictions on manufacturers,
including reduced packaging weight and an increased use of recycled
If you look at any of the Best Global Brands, you’ll see that the top
materials. Despite a continuous growth of packaging units in the
brands create value by generating demand, reducing risk, and
European market, the French environment and energy management
securing future earnings for their business. They do this by translat-
agency ADEME confirms that package waste is now decreasing as a
ing to customers what is relevant in today’s world and influencing
result of this measure and a major part of the manufacturers’
buying behavior. Due to distinct offerings, they develop a strong
investment is dedicated to recycling.
relationship with customers, and this leads to repeat purchasing.
We need to begin to view sustainability with the same lens.
Regulatory pressure has also impacted India. In July 1998, the Supreme
Court ordered the Delhi government to implement compressed
If we can combine the rigor of branding with the necessary aspirations
natural gas (CNG) or LPG (autogas) fuel for all autos and for the
of sustainability, we can begin creating long-lasting impact that is
entire bus fleet in and around the city. Delhi observed a dramatic
not only necessary, but also inevitable. Real change–the kind we’ve
improvement in the quality of air with the switch to CNG. Pakistan
seen brands influence–will come about when we see corporations
and Sri Lanka have seen similar results since they each passed their
start actively integrating and managing sustainability as part of their
own CNG law.
business strategy and delivering it through the brand strategy.
In addition to regulation and the increased pressure to do good,
This does not mean just reporting carbon emissions and showing
incentivization is also changing today’s landscape. In Switzerland,
transparency. While these are great steps, they do not contribute to
the government has imposed strictly enforced recycling and anti-
changing behavior. On the other hand, if businesses begin intercepting
littering regulations. Further, citizens are given a financial incentive
consumers’ lives, approaching sustainability as they do brand, making
to recycle as much as possible, since recycling is free. As a result,
their products and services the vehicles to deliver the message, they
Switzerland has become one the top recyclers in the world. The incen-
will create change. Indeed, the brands that have the most successful
tivizations have reinforced good behavior as well, sparking interest
sustainability initiatives are changing and innovating their products
in citizens who voted for even more environmental regulations.
and services to support the message.
Interbrand Best Global Brands 2009 I 9

Shifting Attitudes Towards Wealth
A return to luxury’s core values
By Jean-Baptiste Danet, Stuart Green, and Manfredi Ricca
The impact of the recession on consumers’
shopping habits
Across the globe, a considerable amount of wealth has evaporated
during the past months, a substantial part of it having shown to be
debt in disguise. The so-called wealthy consumers have disappeared,
negatively affecting the luxury sector. The impact on these producers
may not yet have been correctly estimated as it is momentarily hidden
by no-refund cancellation policies and long waiting lists.
The shift has helped boost discount brands, which are seeing new
opportunities in the market. Many consumers are making the
switch to cheaper alternatives such as private label brands, low cost
airlines, factory outlets, and increasing online research and online
shopping. Many are simply trading down, buying when items are
on promotion, or delaying purchases. Some markets have even seen
consumers take advantage of declines in currency valuations. South
Korea’s currency has fallen so dramatically against the Japanese yen
that thousands of Japanese consumers are regularly taking the two-
and-a-half-hour flight to Seoul.
In Western markets, the rise of the hi-lo consumers–people who
save on what is less relevant to them so they can indulge in what
they find to be truly meaningful–has made discount shopping not a
sad compromise, but a joyful form of smart allocation. By improving
store environments and offering better service, hard discounters
have found new consumers who are comfortable and even proud
of “buying at a low price.” While discount has always existed, it is no
longer a question of budget, but cleverness. And yet, the current
economic climate shouldn’t be viewed as a cause, but a catalyst for
change. Even before the crisis, consumers were increasingly growing
more cost-conscious and aware, carefully thinking about spending
10 I Interbrand Best Global Brands 2009
and becoming more discriminating about their choices. For some
time now, the concepts of value (what your brand does) and values
(what your brand believes in) have been strongly connected. In the
current marketplace especially, it is no longer enough for a business
to seem ethical and authentic to secure a brand’s future–it must
actually deliver.
The rise of the new consumer
What has emerged over the past years in Western markets is a new
consumer whose attitude towards wealth has shifted from a question
of “what to buy” to “why buy,” and from purchasing power to an
empowered purchase. Economic, social, and environmental concerns
have brought issues such as sustainability, wealth distribution, and
resource protection to the top of the agenda. As a result, an
ostentatious form of luxury appears completely out of sync with a
global quest for sobriety, wisdom, and a greater sense of purpose. In
Western markets, even consumers who can afford luxury goods are
refraining from purchasing, in fear of being ostracized for their
lavish spending.
The wave of accessible luxury and the new rich have forced long-
standing European luxury brands to find ways to emerge from this
democratization–mainly by engaging with customers who can
afford them not just economically, but also intellectually. By catering
to an élite that doesn’t just have the power to buy, but is also fully
aware of the authenticity, legacy, and excellence that sets these brands
apart, it is no longer about the wealthy, but wealthy connoisseurs.
This marks a return to 19th century French and Italian luxury, which
was about craftsmanship, unique “savoir faire,” and selling a lot to the
few. This is a reversal from the recent past, which saw many luxury
brands selling more to more people for less.
Asia: the lasting desire for luxury
It is important to note that while Asia’s luxury market has also been
impacted by the recession, this trend is less pronounced in the
region. In Asia, sensitivity towards wealth generally applies more
to notable public figures who are expected to act as role models,
rather than the average wealthy individual. (The one exception here
is Japan, where owning luxury items may not be quite as special as
it used to be.) Unlike in Western markets, the change in spending
habits may not reflect real attitude changes across Asia. Instead it
reflects circumstantial changes, as consumers indicate their inten-
tion to resume spending once the recession is over.
Although consumers are trading down and choosing house brands
over branded items when it comes to functional items such as
groceries and basic needs, quality remains important when it comes
to personal items that demonstrate social status. Rather than
refraining from spending, Asian consumers are taking advantage of
the economic downturn or merely delaying their purchase until the
economies feel more secure.
How to adjust to the realities of the
economic environment
Just as discount labels have been affected by the recession and shifts
in consumer spending, luxury retailers and manufacturers have also
been impacted negatively. The brands that did not see these signs
before the crisis or make moves to adjust are struggling the most.
The luxury brands that made measurements and consumer tracking
a priority before to the crisis are the ones surviving. They have already
predicted shifts in spending ahead of time and, in many cases,
already addressed the issue of how to woo the elusive, average
consumer, who sits between the discount consumer and the high-
end target group. They have also shown why it is necessary to adjust
to changes in consumer spending habits in a tough economy. Some
of these adjustments include:
1. Positioning for authenticity and value
Brands need to position themselves as providing genuine value
and real benefits to consumers. They need to focus on physical or
tangible differences, as opposed to intangible messages. Luxury
brands should focus on heritage or craftsmanship. They need to
re-emphasize the brand’s real value to customers. They need to
entice consumers, rather than make price cuts.
Says Gucci CEO Patrizio di Marco, “Leading brands define them-
selves through the experience they afford their customers. Over
the coming years that experience will need to become even
more distinctive.”
2. Strike the right balance
This is critical, both in communications, and execution such as
product lines and staff training. Brands must be sensitive to the
changes in the consumer mindset and economic environment.
They need to defend their position and take advantage of the
situation to reach out to a wider consumer base.
However, at the same time, it is perhaps even more important
for brands to be empathetic and reassuring to their existing
customers. This is essential to sustaining brand loyalty at a time
when consumers are more likely to switch to cheaper alternatives.
This might involve over-investment in customer relationship
management, with an even greater focus on customer service,
or enhancing loyalty programs, rather than discounting.
While the two points may seem to contradict one another, it
is possible to strike the right balance. Many luxury brands
are successfully investing in their retail networks with the
ultimate goal of reaching a wider audience, while also offering
an outstanding experience to their core aficionados.
3. Avoiding limbo
Striking the right balance between accessibility and premium
status has proven to be quite a challenge for luxury brands.
Brands that diversified to a larger audience when times were
good are suffering. Tiffany & Co. initially benefited from opening
stores in malls across America but is today seeing the effects of
brand dilution. Wealthy consumers are more likely to purchase
their jewelry from a brand that has maintained its exclusivity,
like Cartier. The average consumers have cut out luxury spending
altogether. Too high end to be mass, too mass to be high end–
this is a difficult limbo to reemerge from.
4. The importance of communities
Google symbolizes how communities reshape the way we see,
investigate, and rationalize our world. As a result, it is also a
symbol of the way we discuss, choose, and reject brands–even
luxury brands. For many decades, luxury brands influenced
popular consensus. Today, luxury does not hold that same power.
Communities, not necessarily the élite, create influence and con-
sensus. These same communities will refuse luxury as a dogma.
Think of Apple’s iPhone, possibly the first non-exclusive brand
in history. It transcends any other smartphone in terms of the
desire it ignites, if not of ease of use and functionality. As a result,
it generates the same long lines we once saw outside of upscale
fashion boutiques.
As the concept of luxury evolves, the true opportunity for luxury
brands will be to focus on the roots and meaning of their excellence.
Prada has continued to invest in its own stores with the goal of
owning the purchase experience and ceremony. While it has embarked
on the Prada Transformer, a structure that is designed to accom-
modate a series of events in Seoul in 2009, this initiative is not about
stretching the brand. On the contrary, it is about reinforcing its
essence by letting its artistic angle play out. It is about depth and
substance, not breadth and surface.
Interbrand Best Global Brands 2009 I 11
The Experience Revolution
Brands that touch the five senses By Leslie Butterfield
Ask yourself this question: What has been your best-ever brand experience?
Maybe it was staying at a Four Seasons hotel, stepping into a Mercedes-
Benz, handling a Jaeger-LeCoultre watch, or owning your first iPod.
Or maybe it is a memory of opening a cold Coke on a hot day, flicking a
Tic Tac mint into your mouth, or your first visit to McDonald’s.
These experiences are all personal, emotional, and tangible. This
is what makes them special. Great brand experiences like these
offer customers a multitude of benefits: tactility, reward, visual
pleasure, functional excellence, and a sense of flattery, simplicity,
or inner peace. The list is long, and the feelings are often profound.
In the end, though, our daily lives aren’t defined by special
occasions–they are defined by what is continuously present.
The post-digital age
In 2009, no brands have been more present in our lives than
those in the digital sphere. Google, Microsoft, Apple, Facebook,
Twitter, and YouTube have pervaded our waking hours. As they
have brought us all the benefits of immediacy, connectedness,
and information, they’ve also subtly shifted our worldview and
our brand priorities.
We are now overwhelmed with messages. According to Deloitte,
the average office worker checks his or her email over 50 times
per day and sends more than 160 messages. A Google search
reveals that we receive around 1,000 commercial messages a
day. Evidence suggests that this information gradient is getting
steeper. Is this an insatiable appetite, or will there be a limit to
how connected we can be–or want to be?
Maggie Jackson, in her book Distracted: The Erosion of Attention
and the Coming Dark Age, believes that the never-ending stream of
phone calls, emails, instant messages, text messages, and tweets
interrupts and stifles creativity. This degree of interruption, she
claims, is strongly correlated with stress and frustration. Indeed,
recent studies show that information workers now switch tasks
an average of every three minutes throughout the day.
So while we reap the benefits of the digital age, we probably
need to recognize that the speed and volume of our communi-
cation have changed the way we interact with each other. Our
language is more curt, our expectations more immediate. We
don’t have time to be as nice as we once were.
12 I Interbrand Best Global Brands 2009
Many brands have reflected these changes. In the rush to be digi-
tal, they have overemphasized these channels at the expense of
real human interaction. The risk is that consumers become desen-
sitized. That’s why there is now the beginning of a move the other
way–not a backlash, but a turning toward more real, human, and
meaningful connections.
In the U.K., for example, live events like festivals and concerts
have never been more popular. Last year an estimated three
million people went to one of the 500 different festivals on
offer. These people are on a mission to experience the sights and
sounds but also the smells, touches, and tastes of real events.
They want to immerse and enjoy, not just be entertained.
Getting back to basics
For many brands, the instinctive reaction to this trend has been
to look for new and smarter ways to connect with consumers
through technology. Dove has invited women to produce their
own TV ads for the launch of the new Dove Cream Oil collection.
Creative, interactive, multilayered websites like LEGO or Wrigley
also bridge the gap between the real and virtual worlds.
But not enough brands are paying attention to tangible human
interactions or to what true brand experiences entail. It’s an obvi-
ous point, but by definition the digital world is restricted to just
two senses: sight and sound. It’s clear that no amount of time
on a Mercedes-Benz website will give consumers a true sense of
what it feels like to close a car door, smell the brand-new leather
interior, or run their hands over the dashboard.
Consumers need these memorable, multisensory experiences to
fully engage with a brand. Brands need to get back to basics and
create more experiences of this kind. When they do, the rewards
are huge. NIKETOWN, Apple Stores, the Samsung Experience,
Mercedes-Benz World, Disney Stores, and LEGOLAND are all
testimonies to the power of this strategy of giving people new,
3-D brand experiences around a known product.
But brand response is about more than just “opening a shop”–
and anyway, that may not be at all appropriate for some brands.
If you’re a telecom brand, for example, your shops are probably
focused on selling phones and dealing with customer contracts
and enquiries. So where do you turn if you want to create an
uplifting brand experience?
Brands leading the movement
For T-Mobile (part of Deutsche Telekom) the answer is a multi-
level strategy. It does all the things you’d expect from a major
mobile network brand: advertising, e-mail promotions, DM
offers, loyalty schemes, and running its own shops. But it also
does something that no one else in its sector has done: bring
people together, at short notice, for spectacular, live, flash mob
events that celebrate music, youth, and (of course) the T-Mobile
brand. The last one, in London’s Trafalgar Square, attracted nearly
15,000 people. The audience, singing the Beatles’ “Hey Jude,”
was featured in a TV commercial that was shot, edited, and
broadcast on national TV within 24 hours.
Even bigger was the Nike+ Human Race event last year. Nearly
80,000 people in 142 countries took part in the event. Hosted
by Nike in 25 cities, but taken up spontaneously by many more,
this truly was a global celebration of the Nike spirit. Immersive,
personalized, multisensory, and 3-D, it was a brand experience
to remember.
Brands on the right track
Not all brands can go this far, but there are still plenty who are
tapping into this “Experience Revolution,” seeking to engage all
the senses around their offer.
• Moët & Chandon, brand leader in champagne, opened a Moët
Bar in Macao and a number of Ateliers Moët in cities around the
world where people can interact with the brand in person.
• Camper, the fashion shoe brand, expanded its core concept into
stylish, laid-back hotels in Barcelona and Berlin.
• Nestlé opened a Nespresso Boutique in Paris, creating a full,
3-D experience for the brand.
• Illy introduced the pop-up Galleria illy in New York, Milan, and
Trieste in line with its mission to integrate the brand with the
world of art and culture.
• Dolce & Gabbana opened a fashion-inspired restaurant, D&G
Gold, in Milan.
Engaging the five senses: challenge yourself
Engaging all five senses to make your brand more effective and
Hear. Taste.
memorable is often easier said than done. If you’re a retail brand,
well, the world is your oyster–you really can create your own
unique experience across the senses. If you’re a product brand,
wealth
the path isn’t as intuitive. However, this doesn’t mean that
of See.
product brands can’t find ways to use tactility, sound, and smell.
Feel.
For instance, BMW spends a lot of time and money on designing
The value
sounds and textures–not just shapes and functions–for their
Touch.
products. Smell, too, can be a selling point. Research conducted
many years ago in France suggests that childhood memories
of the smell of a car’s interior (particularly the leathery smell of
luxury cars like Jaguar) could still be a powerful purchase trigger
in adulthood!
Other brands have been using smell to their advantage as well.
Nespresso Boutique Bar features a Gallery of the Senses, an
“olfactory route” through the brand. Samsung has developed a
“Brand Sensory Identity” system that embraces not just visual
elements but also sonic devices, sound palettes, product and
packaging texture guidelines, and fragrance signatures.
Virtual brands experience the greatest challenge here. How can
they create their own touch, smell, and taste experience given
their limits? While difficult, there are ways to do this if brands
think outside the box. Perhaps T-Mobile’s flash mobs can offer a
hint to the way forward.
The Experience Revolution
Interbrand is taking its examination of the customer journey a
step further, analyzing the role that the senses can play through-
out that journey. This might take the form of a sensory audit, an
analysis of sensory touchpoints, or even a holistic view of the
“sensory customer journey.” This type of analysis is necessary if
you want your brand to succeed.
The increased desire among consumers for authentic experiences
is a reality. More and more consumers will react against the
blizzard of digital distractions that pervade our lives and leave us
feeling a little frustrated and empty. They are going to want to fill
that void with real experiences. They’ll turn toward brands that
offer multisensory events, locations, and occasions–anything
that reconnects them with other people in person, not remotely.
And this “Experience Revolution,” as we’ve called it, isn’t just about
the senses but also about emotions: not just transient emotions
like happy or sad but deep emotions like community, belonging,
feelings of self-worth, and individuality. Brands that can use
real experiences to tap into these kinds of emotions will open up
a wellspring of goodwill, loyalty, and, ultimately, value.
Interbrand Best Global Brands 2009 I 13

Decoding Shopper Behavior
Creating a memorable retail experience
By Bruce Dybvad and Kelly Crouch
By its narrowest definition, a store is a distribution point, a location
for the purchase transaction. Yet when the store is creating an
experience, it is more akin to an event, engaging the shopper’s
energy with shapes, lighting, textures, sounds, and smells that swirl
around its distinctive merchandise presentations. It reaches the
imagination through the senses to speak to both wants and needs,
delighting the customer. A brand can really be at its best in retail.
However, because there are so many moving parts and pieces of
the supply chain and thousands of decisions that happen before
the shop doors open on any given day, retail also presents a brand’s
greatest challenge. It demands organizational and creative genius
focused around a compelling brand idea. To complicate matters,
today’s consumer is wary and changeable.
This is why, especially in these turbulent times, retail brands need to adapt through the storm. These clear and consistent brand leaders continue
to shoppers evolving needs to entice them through the doors. By renewing to win during the downturn.
trust, they can find ways to maintain or even increase profitability.
Customers have limited patience and forgiveness,
so the basics must be right
Trust in our institutions has eroded and customers are frustrated.
Customers are shopping for what they need versus what they want and brand. (For example, it’s fun, I feel cared for, and it inspires me.)
aren’t interested in endless choices. They don’t want to deal with clutter, The foundational, transmissive, and experiential influences all
additional shopping trips, or risk disappointment in new item trials.
For retailers, this means if the basics aren’t in place, or if the
experience is not what shoppers need now, shoppers will be quick
to defect. Even if they must cut costs to compete, stores must still
work to get the basics right, and maintain the expected service level.
Carrefour is working to get the basics right. In response to the
budget-minded customers who are disinclined to drive out of town
to its hypermarkets, Carrefour is leveraging customer data to adjust
its store offerings to better cater to its clientele. It is seeing success
through more careful produce selection, a reduction in non-food
items, and increased focus on its small-format Carrefour City stores,
which are located in city centers, where budget-minded shoppers
are more likely to shop now.
14 I Interbrand Best Global Brands 2009
In keeping with the new “less is more” sensibility, a few of the largest
retailers, such as Walgreens and Wal-Mart, are expected to slice the
assortment of their stores by at least 15 percent. Businesses have
found that eliminating certain products can lift sales and profits in
part by cutting excess inventory and opening up shelf space for house
brands. Interestingly, to accommodate today’s customer, many
brand manufacturers have announced that they will invest in their
most stable, familiar brands with strong value propositions, rather
than introduce new items.
As customers trust less, stable brands matter more
In turbulent times, shoppers are looking for stability, not the newest
and latest player. Brands that have clearly established a reason for
being and have stuck to a promise become the brands that guide us
The three basic influences that affect customer choice are:
foundational, the product and its brand signature; transmissive or the
promises made through brand messaging; and the experiential
influence, the most critical of the three–when a customer’s emotional
reaction to something in the store is transferred directly to the
demand a delicate balance.
A brand that gets these three basic influences right is H&M, which is
doing better than competitors, as evident from new store openings
and expansion geographically. H&M possesses a strong combination
of operational abilities and clear and consistent brand. It is well
positioned to stay strong during tough times and pull share from
upstarts. While price has always been part of its proposition–and is
reaping big benefits now–the fast fashion house continues to evolve
the design of its store experience. Customers rely on H&M for trendy
and practical apparel, as well as the designer lines and social
connections they’ve come to count on. In Tokyo, 8,000 customers
lined up to wait expectantly for the newest store to open.
The retail experience must be carefully crafted
around shopper insights
If brand is the big idea that tells us what we want to achieve with
shoppers, then every element in the store design must manifest the
same highly recognizable sensibility and unique narrative. More than
that, the people who shop there must inspire the myriad of small
design choices we make to bring the brand promise to life. IKEA was
voted one of the world’s most trusted retailers because, like no
other brand, it recognizes and fills a need and does it beautifully.
Year after year, IKEA draws eager crowds to its inspiring destination
stores, which are often complete with services like restaurants, a
mini-grocery, and a children’s play area. IKEA continues to associate
itself with values and practices like conservation and sustainability
that reflect consumers’ own values. IKEA’s quality, moderately
priced furniture is enhanced in the consumers mind by its investment
in renewable energy, and its commitment to water and energy
conservation. It builds on its reputation of trust in its digital experience
as well. There is a feature dedicated to offering customers advice
on how to shop. The website offers information on its products and
provides maps, if you need detailed directions to its stores. The IKEA
experience is truly crafted around its shopper.
The same can be said for Hertz. In an industry fraught with pain
points, any brand willing to take them on behalf of its customers
has the opportunity to lead the category. Yet, many just take the
customer for granted instead of adopting customer-centricity as a
perpetual mindset. Hertz stands out because it has mapped the
customer journey to continually find moments to innovate. It
creates a distinctive and delightful experience by leveraging every
nuance of brand interaction. It keeps you out of the rain, enables
you to avoid stopping at the check-in desk by allowing you to book
efficiently online, stands ready with your preferences even as they
change, and improves upon its brand promise, consistently bringing
it to life through physical delivery. In car rental it leads the category.
The new value equation
Price is only one part of the value message today. When the recession
hit, some retailers went straight to price comparisons. But price
competition is not sustainable. The solution is a balanced value
proposition, unique to your brand, where price competitiveness
plays a role, but is not the sole competitive advantage. Without a
balanced equation, a brand’s power to create demand is diluted.
The U.S. retailer Target has done a masterful job of aligning brand
messages with price credibility.
Value can be delivered in many ways. For example, people are dining
out less. This allows the grocer the chance to boost its category by
filling a different role, such as providing suggestions on how to make
a great dining experience in the home.
Hard discounters like ALDI and Lidl are introducing broader selections
and brands while maintaining a huge focus on best value. These
brands have maintained clarity and consistency, and are well posi-
tioned during these times. However, the question becomes what is
in their future? How do they defend their position on the upswing?
Continuous understanding is key to
market opportunity
Building a retail brand requires strong insights now more than ever.
Simply asking shoppers what it takes to make them happy won’t
necessarily lead to useful knowledge. Shopper behavior must be
studied, observed, and questioned; investigation cannot be limited
to backward-looking market research studies or in-home and work-
place observation, which omit specific environmental dynamics.
Although one can see that attitudes about value have shifted
without precise methodologies, retail-specific techniques gather
the insights critical to the creation of the shopping experience.
These methods inform merchandise planning, adjacency, and shelf
strategies. They often result in multiple circulation patterns for
multiple high-potential shoppers–customers who shop the same
store but with completely different styles. Differences abound by
category, by brand, and by mission. They can only be revealed and
addressed by studying the shopper.
Retailers that marry shopper insights with strategic store design can
successfully orchestrate profitable purchase behaviors that increase
shopper satisfaction. The winning consumer-centric retail business
model is, in fact, a perpetual mindset, a fierce determination to look
through the shoppers’ eyes and fathom their concerns.
Shoppers don’t blindly align with brands like they once did. They
don’t choose one carmaker for life, or shop exclusively at one
department store. People don’t stay in the same job for their entire
career and markets aren’t as stable as they’ve been in times past.
Trust is at stake in every transaction. Shoppers are being courted by
so many options, their attitude has a “what have you done for me
lately?” quality. At the same time they have real worries, fears, hopes,
and dreams that are shaping and reshaping their values and behaviors.
Decoding those mind states is the key to a closer connection.
Although retail will never be an easy proposition, precisely because
it has so many parts and pieces, each moving at a different velocity,
retail offers endless opportunities to adapt in innovative ways to a
shopper’s unmet needs–and through them new markets and higher
levels of profitability.
Interbrand Best Global Brands 2009 I 15
Driving Demand
Through Creativity
Lessons from the Best Global Brands By Andy Payne
with contributions from Interbrand’s creative leaders

Designing a powerful brand expression is a combination of a strong proposition Fred Richards, Executive Creative Director, Cincinnati:
Sometimes it just comes down to gut instinct. If you don’t need to
this better than anyone else. In the worlds of IT or e-commerce,
customer experience is paramount to brand building–Amazon.com
and compelling personality. The proposition and personality are then brought to explain the proposition to someone who is seeing it for the first time, stands out in this regard.
life through a unique combination of the key equities of the brand: tone of voice, then that’s great. You have to have a sense of conviction to follow
through across all of the touchpoints, and resist any argument to Fred Richards: One of the main champions of this at the moment
imagery, color, typography, environment, textures, live and static forms, and dumb things down. If you have a great proposition, then shout it has to be Moët & Chandon’s Veuve Clicquot Champagne. As Moët
sounds. These equities are then used like a palette to design all touchpoints of from the rooftops, get consumers to understand it, and engage with
it at every possible touchpoint.
& Chandon CEO Marc Jacheet says, “Moët is a dealer in hope.” The
consistency of brand application is key in an oversaturated market
the brand and create the desired expectation or experience. of blacks and golds. There is a distinct and yet subtle sense of humor
Step 3: Find a way to balance the brand proposition to the brand. Packaging is constantly innovating to add value and a
and a compelling expression of that proposition sense of style beyond the category norms of celebration at critical
Step 1: Start with a great brand proposition expressions from passion to fun. Graphics are reminiscent of 1960s across global markets and across all touchpoints key dates on the calendar.
flower power, with the vibrancy of a Rio street carnival. Coca-Cola
Paola Norambuena, Head of Verbal Identity, New York: has also created the “Coca-Cola Design Machine” website, a toolkit Andy Payne: BMW really gets it right. When we see BMW’s brand
Chris Campbell: For brands to be successful on a global stage they
A brand proposition that sparks imagination, dedication, and an to ensure that the brand proposition is expressed uniquely and mark, we don’t think of its origin as the propeller of an airplane or
need to have the flexibility to adapt to local markets while maintain-
emotional connection is easier to implement across customer effectively in each market, and that evolving design stays true to the the literal translation of blue and white quadrants. We think of the
ing and building upon the core brand proposition. McDonald’s is an
touchpoints, and even cultures and regions because the meaning core brand proposition. All of these elements contribute to the perfectly engineered “driving machine,” and this is because expres-
excellent example of a brand that has embraced this practice. While I
is evident. Cultural adaptation then becomes an inflection of the overriding impression that Coca-Cola offers a world experience that sion has become synonymous with the brand proposition.
may be able to buy frites with frites sauce only in France, the experi-
overall idea. As you see with Nike, its visual and verbal expression transcends the product. This rebalance towards a more emotional
ence is the same as New York, London, or Tokyo: an experience of
varies more than most brands, but its intent and attitude is always center of gravity has given Coca-Cola a richer territory. Chris Campbell: Nintendo embraces expressive design in all that it
simple, easy enjoyment.
consistent: If you have a body, you are an athlete. This proposition does. From product design to naming, from communications to user
taps into Nike’s dedication to human potential, and makes it relevant Step 2: Know when you have a great brand experience, from in store to online, Nintendo is effectively reflecting
Hideto Matsuo, Creative Director, Tokyo:
to its business by grounding human potential in athleticism. It’s proposition, and stick with it The greatest challenge and highest barrier is often conservative
its brand promise of igniting and satisfying demand by delivering
not overly clever, instead it’s fundamentally true to the brand. “wow” experiences and services that bring big smiles.
thinking. Large organizations can be very resistant to change.
Andreas Rotzler, Chief Creative Officer, Central and Eastern Europe:  
Reaching consensus may take a very long time particularly when
Chris Campbell, Executive Creative Director, New York: You know you have a great brand proposition when you experience Scott Jeffrey: The Disney brand was built around a compelling
working around different cultures and sometimes business agendas.
Great brand propositions and expressions are universally understood, something familiar in a new way. The most successful brands are like proposition of family-centric entertainment and it guides every
However, to get a successful implementation across all touchpoints
believable, actionable and stand the test of time. Whether it is the good actors. These creative brands instantly convey meaning and touchpoint that a consumer encounters. The use of characters
and markets, you need to get everyone on the same page.
product design, the name, an advertisement, the user experience, begin to tell a story. Disney is every child’s friend because it offers the to create fantasy leads to being able to physically engage similar
a personal interaction or the choice of a color, all need to express and power of magic. HSBC is your approachable neighbor who is also a themes in a physical space, one that immerses the customer in a
Scott Jeffrey: Balance lies with the desire for consistency of the
reflect the proposition. big world player. Apple and Google are relaxed revolutionaries; their 360-degree, multisensory, branded experience.
brand proposition and how it’s uniformly communicated. The
approach and offering seem casual and easy, but they’re actually
challenge is getting beyond cultural hurdles that might discourage
Andy Payne, Global Creative Director: much smarter than you. Final word: Expression creates value
consistency. Sometimes, even a color used to express a proposition
Coca-Cola is an example of a brand with a great brand proposition.
may have a different connotation across borders, so the intent
In the last decade, we have seen Coca-Cola rebalance the heart of Scott Jeffrey, Chief Creative Officer, Interbrand Design Forum: Andy Payne: As consumers and audiences we encounter emotion
behind the use can be diluted or misinterpreted.
the brand from one that is product-driven, to one that is an expression For retail, a great expression of the brand proposition is achieved when and meaning through personality and storytelling. Expression creates
of lifestyle. The brand has moved from refreshment to a bigger idea: nothing appears out of place. This means it would be difficult to add ownership of that meaning, and that ownership creates value.
Paola Norambuena: It is a challenge when the brand proposition
a world of enjoyment, summarized with the slogan “The Coke side or subtract something else and get the same meaningful impression.  
is expressed in a way that’s hard for people to grasp. Maybe it’s too
of life.” This has allowed Coke a far more powerful and emotional The journey towards creating a compelling expression of your brand
general, not specific enough to the core offering, uses language
palette to create a connection with consumers. Paola Norambuena: Everyone should immediately understand it, is never complete. Brand propositions, personality, and expressions
that’s not true to the brand, or feels too much like a slogan. In these
know what to do with it, and be able to express it to their customers have to be continually evaluated, evolved, and reevaluated. The
cases there’s not enough depth in the proposition for it to spark
To see this, just look at the way it is communicating. On TV, a humble in everything they do. A truly great brand proposition is simple, landscape in which consumers evaluate the desirability of a brand
imagination in its application. If I can’t imagine how this applies to
vending machine reveals a Tim Burton-like magical world of rich memorable, self-evident, and relevant to the company, both internally is continually changing; change is inevitable, and is something that
my day-to-day role; how it applies to my function or region; or how
detail and thrills. In print, the opened bottle unleashes a variety of and externally. needs to be embraced as an opportunity.
it impacts how I think about the brand, then it is not successful.
This is the emotional connection.
Many brands have not explored creating strong compelling emotional
territories. For those brands, a great opportunity for growth lies
Step 4: Look to the Best Global Brands for examples
ahead. As the Best Global Brands demonstrate, brands that claim
of driving demand through expression powerful emotional propositions and capture them with an exciting
world of expression, have the ability to maintain a fond place in the
Hideto Matsuo: Modern industries such as automotive or consumer
mind of their audiences now and in the future.
electronics promote quality and touch and feel. Apple delivers

16 I Interbrand Best Global Brands 2009 Interbrand Best Global Brands 2009 I 17
 The Reliance Group is India’s largest private-sector enterprise,
with businesses in energy and materials. Starting with textiles in
the late 1970s, Reliance pursues a strategy of backward vertical
integration, giving it global leadership by participating in every
stage of the value chain. Today it is the largest polyester yarn and
fiber producer in the world and among the top 10 producers in
the world in petrochemical products.
ArcelorMittal is the world’s number one steel company. Created in
2006 following the merger of Mittal Steel and Arcelor, it operates in
more than 60 countries and is the only truly global steelmaker. Its
presence in Europe, Asia, Africa, and America gives the brand expo-
South Africa. The company is aggressively building its brand as an
official sponsor of the 2010 FIFA World Cup (in South Africa).
Anglo American, the South African mining house, is to many the
powerhouse of local business and–together with its 45 percent
ownership of De Beers–an icon for the country. Headquartered in
London, listed on both the London and Johannesburg stock
exchanges, and operating in 45 countries, it is international by any
standards. With a newfound passion for its brand assets, the group
can regain some of its lost momentum of late and reassert itself on
the global stage.

Tomorrow’s Brand Leaders

Up-and-coming global brands By Jonathan Chajet
While 85 percent of the world’s population lives in the developing world, not one of
the Best Global Brands calls the developing world its home–at least for the moment.
The recent economic crisis is being viewed by many as a “reset” that
will forever change industries. With their huge populations, there
is a decided shift in economic power to countries like China, India,
Russia, Brazil, and Africa, and former global giants are making way
for new leaders from fast developing markets.
New dynamics
While the long-term effects of the current economic crisis are still
unclear, a few new dynamics are emerging.
Consumers, in general, are now more value conscious. They are
closely scrutinizing the functional benefits of a product and trading
off emotional benefits for price. Some of today’s global brands are
badly out of sync with a world where frugality is the new form of
conspicuous consumption.
The very public demise of some of the world’s most venerable
brands–particularly in the financial services industry–means that
heritage no longer implies reliability. Combined with the surprising
breadth and depth of the economic crisis, consumers are asking for
greater transparency from their brands.
At the same time, the Internet continues to transform the relationship
that brands have with their customers. Speed, interactivity, and
personalization are becoming increasingly important purchase drivers.
The relentless march of the Internet will continue to dismantle
barriers to entry for new brands and open up entirely new channels
for value delivery.
Advantage of developing market brands
Although brands in fast developing markets face challenges in build-
ing awareness and standing for something other than low price,
these new dynamics are creating opportunities, if not outright
advantages. No economic crisis hangover, no “old school” imagery,
and no addictions to business as usual: These brands are the fresh
breeze emerging from the storm.
Fast developing market brands have years of experience targeting
low-income consumers. They understand how to strip products
down to their bare essentials and connect with consumers in terms
of functionality and value instead of status and aspirations.
sure to all the key steel markets, and it’s looking to develop positions Few realize that the “SAB” in SABMiller stands for South African
in the high-growth Chinese and Indian markets. Breweries, a company formed in Johannesburg in 1895. In little over
a decade, the company has grown through acquisition to be one of
Russia: Kaspersky Lab, Aeroflot, Gazprom the top three brewers in the world, spanning the globe with over 200
Kaspersky Lab provides information security to computer users brands, including Snow in China; Miller and Coors in North America;
around the world. Founded by one of the visionaries in computer Castle in Africa; and Peroni, Pilsner Urquell, and Grolsch in Europe.
protection, Eugene Kaspersky, the company sees itself as more In addition, it is one of the top bottlers of Coca-Cola products around
than just a commercial mission–it also seeks to develop the overall the world.
harmony of global communications. The brand does not emphasize
its Russian origin and hopes to set an example for other Russian
developers to become big global players in IT.
Brazil: Banco Itaú, Vale, Natura Cosmético
Banco Itaú, the result of a merger between two of the oldest banks
in the country, is the largest private financial institution in Brazil and
With an 85-year history in aviation, Aeroflot hopes to become a one of the largest in the world. The company is pursuing business
global brand by leveraging its geographic position between Europe both domestically and overseas, participating in all areas of economic
They also have much lower cost structures due to thriving on micron-
and Asia as well as its importance in Russia’s economic development. activity and exercising leadership in various segments of the
thin margins for years. This gives them extraordinary flexibility to
With deep investments in on-the-ground infrastructure, improving banking sector.
respond to market needs, enabling them to test and churn out new
perceptions of quality and service, and competitive prices and time-
products at a much faster rate, and achieve exceptionally high levels
tables, Aeroflot is proving to be a tough competitor for brands like Vale is a global mining company that is working diligently to transform
of mass personalization–just what the Internet generation loves.
Air France and even Lufthansa. mineral resources into prosperity and sustainable development. Its
mission is to provide the essential ingredients of people’s everyday lives.
Brands on the horizon
Today’s Russia is about oil and gas. Gazprom holds 17 percent of
the world’s gas extraction and is already world renown. To some Natura Cosméticos is Brazil’s largest manufacturer of cosmetics,
We have identified a number of developing market brands that have
extent, it represents and influences the image of Russia overseas. skin care, hair care, personal hygiene, and fragrance products. Its
the potential to become leaders on a world stage. Based more on
Regardless of its brand-building activities, Gazprom’s size, industry, brands–including Chronos, Natura Ekos, Mamãe e Bebê, Natura
our gut instinct than technical analysis, these brands are strong
and political weight will keep it on people’s minds for years to come. Unica, and Faces de Natura–are sold via a direct sales force of more
leaders in their home markets and are already showing some early
than 700,000 throughout Brazil. It takes great pride in its social and
signs of globalization. In other words, we like their chances.
South Africa: MTN, Anglo American, SABMiller environmental consciousness and because of its consistent
MTN Group is in the business of communication services through profitability is recognized as one of the companies best withstanding
China: Lenovo, Haier, Tsingtao
cellular network access and business solutions. With over 40 million the economic crisis.
Lenovo aims to be a leading global PC company, with an aggressive
subscribers in 21 countries, its key markets are Nigeria, Iran, and
expansion plan built on solid client relationships, an extensive distri-
bution network, and strong R&D capabilities. Perhaps most famous
for its acquisition of IBM’s PC business, it is building brand awareness
through sponsorship of the Olympics, Formula One, and the NBA.
Striving to be the world’s local brand of home appliances, Haier is
taking a unique route by focusing on niche markets first (e.g., small
refrigerators for U.S. college students and personal laundry machines
for Japanese housewives). Thanks to its global procurement process,
flexible manufacturing base on different continents, and localized
sales and marketing, Haier is rapidly gaining a comprehensive
understanding of international markets.
Probably one of China’s best-known brands, Tsingtao Beer is
quenching the thirst of global beer drinkers who are looking for a
taste of China. The company is aggressively building its distribution
network, tailoring its marketing based on local demands, and creat-
ing strategic partnerships with global brewers like Anheuser-Busch.
India: Tata, Reliance, ArcelorMittal
With nearly two-thirds of its revenue from outside India, Tata Group
operates in a number of business sectors, including communications
and information technology, engineering, materials, services,
energy, consumer products, and chemicals. One key success factor:
Every Tata enterprise operates independently and has its own board
of directors and shareholders.

18 I Interbrand Best Global Brands 2009

 Interbrand launched its first study on brand value a decade ago. Today we recognize that brands are created, managed, bought,

A Decade of Best Global Brands

The top 20 brands’ performance over 10 years
Our first Best Global Brands report was intended to make it clear and and sold just like any other asset. The notion that brands create
widely known that brands are important strategic assets of value. value has been the backbone of the Interbrand offer, running
like a red thread through everything we do for clients.
By placing a value on these brands we challenged the prevailing
notion that brands are only sources of cost, not profit-generating
tools. In time, the business community began to realize the value
of many large companies was better defined by the profile of their
intangibles and not just the physical assets valued on their
balance sheet.

1 Coca-Cola Coca-Cola

2 Microsoft IBM

3 IBM Microsoft

4 Intel GE

5 Nokia Nokia

6 GE McDonald’s

7 Ford Google

8 Disney Toyota

9 McDonald’s Intel

10 AT&T Disney

11 Marlboro Hewlett-Packard

12 Mercedes-Benz Mercedes-Benz

13 Hewlett-Packard Gillette

14 Cisco Toyota Cisco

15 Toyota BMW

16 Citi Louis Vuitton

17 Gillette AT&T Marlboro

18 Sony Honda Louis Vuitton Marlboro Honda

19 American Express Merrill Lynch Citi Samsung

20 Honda Sony BMW Sony Samsung Google Apple

20 I Interbrand Best Global Brands 2009 Interbrand Best Global Brands 2009 I 21
 Financial Analysis Role of Brand Analysis Brand Strength Score Brand Value

We begin by forecasting the
current and future revenue
specifically attributable to
the branded products. We
subtract operating costs
from this revenue to calculate
branded operating profit.
We then apply a charge to the
branded profit that is based
on the capital a business
spends, versus the money it
makes. This gives us a
business’s economic earnings.
All financial analysis is based
on publicly available company
information. An estimate
for financial reporting is
established from a wide
range of analysts’ reports.
This is a measurement of how
the brand influences customer
demand at the point of
purchase. This is applied to
the economic earnings to
arrive at the revenue that
the brand alone generates
(Branded Earnings). We use
in-house market research to
establish individual brand
scores against our industry
benchmarks to help us define
the role a brand plays within
the category. For example,
we know that Role of Brand
is traditionally much higher
in the luxury category than
in the energy and utilities
sector. The brand, not the
business, is unarguably the
principle reason why
consumers choose these
goods and services.
As brands are assets like any
other, in valuing brands we
need to assess their ability
to secure future earnings on
behalf of the businesses that
own them. Brand strength
is a measure of the brand’s
ability to secure demand,
and therefore earnings, over
time. Securing customer
demand typically means
achieving loyalty, advocacy,
and favorable levels of
customer trial, as well as
maintaining a price premium.
Our method generates a
discount factor that adjusts
the forecasted brand
earnings for their riskiness
based on the level of demand
the brand is able to secure.
We calculate brand strength
by assessing the brand’s
performance against a set
of seven critical factors,
including measures of
relevance, leadership, market
A brand’s value is a financial
representation of a business’s
earnings due to the superior
demand created for its
products and services through
the strength of its brand.
Brand value is the absolute
financial worth of the brand
as it stands today. Accordingly,
the brand’s value can be
compared to the total value
of the business. For example,
as it would be assessed on
the stock exchange.
Brand value can also be
compared to other tangible
and intangible assets owned
by the business. We adjust
the business’s earnings based
on future risk to the strength
of the brand (i.e., a net
present value or dollar value
in today’s money). In doing
so, brand value becomes a
key performance indicator
for brand strategy and serves
as the overall performance

Evaluating the Best

position, customer franchise, measure for all branding
diversification, and brand activity and investments.
support. Through this analysis
we also develop deep insights

Global Brands
about how a brand creates
value and what it can do to
increase that value further.

The Interbrand method for valuing brands is proven, straightforward, and

profound. It examines brands through the lens of financial strength, the Brand Revenue Brand Earnings:
importance of the brand in driving consumer selection, and the likelihood – Operating Costs
– Taxes
The revenue that the brand
alone generates
of ongoing revenue generated by the brand. – Capital Costs
Economic Earnings

To start, Interbrand compiles a list of global brands from our
marketing database accumulated from more than 25 years of
valuing brands and nearly four decades of consulting with
organizations around the world.
We then narrow the candidates based on the following criteria
for consideration:
1. There must be substantial publicly available financial data.
2. One third of the brand’s revenues must come from outside its
country of origin.
$
Based on these criteria, certain brands you might expect to see in this
ranking are not included. The Mars and BBC brands, for example, are
privately held and do not have financial data publicly available. Wal-
Mart, although it does business in international markets, does not do
so under the Wal-Mart brand and is therefore not sufficiently global.
Certain industry sectors are also not included in our study. An
example are telecommunication brands, which tend to have strong
national roots and have faced awareness challenges due to numerous Brand
Strength
mergers and acquisitions. The major pharmaceutical companies, Score
while very valuable businesses, do not appear as their consumers
tend to build a relationship with the product brands rather than the

Economic Earnings

Economic Earnings
Market
3. The brand must be positioned to play a significant role in the corporate brand.
Brand Revenue
Leadership
consumers’ purchase decision.
Trend

Net Present
For brands that meet the Interbrand criteria, we next look at the Diversification
4. The Economic Value Added (EVA) must be positive, showing that

Earnings

Earnings
current financial health of the business and brand, the brand’s role in Support
there is revenue above the company’s operating and financing costs.

Brand

Brand

value
creating demand, and the future strength of the brand as an asset to Stability
5. The brand must have a broad public profile and awareness. the business. This method is defined on the opposite page. Protection

22 I Interbrand Best Global Brands 2009

 70
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Brands 2009 60
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Coca-Cola
Coca-Cola is 123 years old and shows no sign of relenting. It is the
IBM
In this tough market, Big Blue’s revenue is at an all-time high. IBM
A snapshot of the brand values number one producer of sparkling beverages by volume and dollars. received the most U.S. patents (more than 4,000) for the 16th year

M
IB
It has launched more than 700 products in 2008 around the world, in a row, investing heavily in innovation as it continues its progres-
for the 100 leading brands and its edgy campaigns continue to push boundaries, showing the
rest of the marketing community what it really means to manage a
sion from a hardware provider to a software and services solutions
brand. It is the market leader, with expanded presence in more than

t
brand. Worldwide relevance is what defines Coke and it has success- 170 countries and approximately 65 percent of revenue generated

of
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50 fully maintained its diversified portfolio in more than 200 countries. outside of the U.S. With an advertising channel on YouTube and

icr
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M
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tries and launched a new message for its marketing campaign. The its message to the masses.
campaign, “Open Happiness,” was targeted to consumers longing for
comfort and optimism in a tough time.

40

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GE
m

56,647 $m -4%

Microsoft
30 2009 marks the first year-on-year decline in Microsoft’s public history, and Bill Gates could have fared better with audiences. However,
.00
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the market matures, the giant faces stiff competition from faster, reviews, is poised to give Google a real run for its money.
ia
ok quicker rivals. In terms of browsing, Microsoft’s Internet Explorer has
N dropped 10 percentage points in market share every two years, while
’s Mozilla Firefox gains 10 percentage points in the same time period.
ald Additionally, a US $300 million ad campaign featuring Jerry Seinfeld
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nz
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cede better equipped to support future innovations and brand evolution innovations like Apple’s iPhone and RIM’s BlackBerry. The N97, a
Mer
than other traditional competitors, due to its ability to touch flagship Nseries mobile computer that was first unveiled in December
te consumers on an emotional level. This year, its financial services 2008, is designed to address competitive technologies but debuted in
5.000 $
m Gillet
offering has slipped, particularly the B2C business. Its media business 2009 at a much higher price point than Apple’s or RIM’s new offerings.
Cisco is also threatening the brand. Additionally, GE faces competition In fast developing markets, where Nokia leads in market share, the
BMW
from Siemens. The good news is that ecomagination is still the most brand continues its strategy of targeting younger audiences with
concise initiative towards sustainability out there, and the brand has trendier design at a relatively lower cost. In the next year, Nokia plans
Louis Vuitton set itself up for growth in the long-term with green technology. After to be more mindful of the U.S. market by increasing its investments
Marlboro losing its leadership position in medical technology this year, GE and developing relationships with wireless carriers like AT&T.
Honda plans to mimic ecomagination’s success with its major innovation
Samsun
initiative “healthymagination,” which entails an investment of US $6
g
Apple billion until 2015.
H&M
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Interbrand Best Global Brands 2009 I 25

 06
32,275 $m 4%
07
31,980 $m 25%

McDonald’s
McDonald’s has performed well this year. It now serves six million
more customers each day than it did before the “I’m Lovin’ It” campaign.
Due to its low prices and numerous locations McDonald’s has been
able to continue to grow its sales–and even captured new market
share–with its McCafé and healthier offerings. The brand does face
one struggle: keeping food costs under control. Like other restaurants,
McDonald’s has been hit with higher beef and cheese costs. To
protect its profits, the company was forced to raise the price of its
popular Double Cheeseburger in November and replaced the
sandwich on the Dollar Menu with a new double burger that has one
slice of cheese instead of two. With value being its biggest drawing
factor, McDonald’s will need to proceed cautiously with additional
price changes.
Google
Continued diversification of Google’s business, from new advertising
models to online publishing, drives growth. The common theme is
low price and high functionality with added transparency. Google
Chrome is two times faster than competitors and stole browser market
share equal to third- and fourth-placed competitors within 24 hours.
This year, Google has continued to innovate. It released the Android
phone software on September 2008, which involved disclosing the
source code for the Google phone to engineers around the world. As
the brand grows it has to deal with the inevitable mistrust and ugliness
ascribed to being a very large, diversified, and very profitable company.

08
31,330 $m -8%

McDonald’s Performance: 2000-Present Toyota

In 2008, Toyota saw its first loss in 70 years due to the difficult building on its existing green credentials, announcing plans to create
economic situation. Net revenues decreased about 21 percent and eco-friendly showrooms. By 2011 it expects to have 100 “green“
0 $m

vehicle sales dropped about 15 percent. Even sales of its bestselling dealerships, where most parts of the buildings are made of renewable
hybrid Prius model slowed down when fuel prices moderated after primary products.
the record highs of the summer. There is even talk that the company
With value being its biggest draw,
McDonald’s continues to grow its sales may create a separate brand for its Prius, adding larger and smaller
$m
5.

models to the line up. The brand would be similar to Toyota’s

00

2009 in a tough economy–and even captured

00
0

.0

new market share–with its McCafé and

$m

2008 low-priced Scion and would only be offered in the U.S., where the
35

healthier product offerings.

2007 company did not create a brand around its “Hybrid Synergy Drive“
2006
2005
system. Toyota continues to develop its long-term value, however,
Who’s not lovin’ it? Moms and teens love
2004 McDonald’s hipper image and salads.
2003
2002
2001 Europe’s mad cow meat hysteria and

09 10
2000 nonvegetarian fries take a bite out of
Big Mac.

30,636 $m -2% 28,447 $m -3%

10.000 $m 30.000 $m

Intel
In the fast-growing mobile computing market, Intel stands to find
success. Determined to break into this category, the world’s number
one chipmaker announced a partnership with the world’s number
one handset maker in 2009. If it works, the Intel agreement with
Nokia will put its latest chips into the hands of millions of customers.
The line of chips, Atom, is meant to carry Intel into this higher
growth market but has so far faced criticism for its cost and power
consumption. However, Atom is finding success in the low-power,
clutch size netbooks market. With an appeal toward more value
25
$m
Disney
Not even the magic of Disney is immune from recessionary pressures–
but Disney’s clouds do have silver linings. Although tighter ad
budgets have put pressure on Disney owned networks, magazines,
and Disney.com, the company continues to successfully leverage
its brand in innovative new formats online and offline. This includes
video games, new resorts, and interactive websites such as its
user-generated-content initiative “U Rock.” Disney’s ability to create
appealing promotions has kept the flow of visitors steady from last
year, despite tighter wallets threatening traffic at theme parks.

conscious consumers in the midst of recession, netbooks have Meanwhile, the Disney and Pixar brands continue to command
.0
00

00

allowed Intel to stay both relevant and top of mind while it tries to audiences, (with some exceptions) as evidenced by the success of
.0

$m
15

crack the code on smaller mobile devices. Up, and a strong content pipeline, including Toy Story 3, which speaks
to a promising future.
20.000 $m

Interbrand Best Global Brands 2009 I 27

11
24,096 $m 2%
12
23,867 $m -7%
BMW’s Performance: 2000-Present

Hewlett-Packard Mercedes-Benz

0 $m
HP has surpassed Dell as the leading seller of PCs in the U.S., even Mercedes-Benz saw sales drop about five percent in 2009 as a result
with falling sales for the category. Overall globally, HP’s market of the recession. But the brand has made strides in other areas.
share is also on the rise. A 20.5 percent increase follows last year’s Using the slogan “Blue is the new green,” Mercedes sought to raise

$m
3.
acquisition of service-provider EDS. This year, HP also began a global acceptance for its high-mileage BlueTEC diesel technology in the

50
2009 Despite continuing to fascinate customers,

00
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BMW sees a dip in profit due to a tough market.

$m
2008
review of its media holdings in Asia Pacific, with the focus on U.S., where diesel is still seen as loud, slow, and smelly. Like many

24
2007
consolidating down to one, key, effective agency. In an increasingly other carmakers it pushed the development of eco-friendly hybrid 2006
price driven sector, HP is finding more way to successfully use its technology. Its luxurious S-class is one of the most fuel-efficient 2005 BMW proves that the right mix of
brand to stand apart. cars of this segment. Following the general trend, Mercedes drove 2004 engineering and marketing can propel
2003 an automaker’s performance even in a
brand development away from print and TV marketing. It launched 2002 tough market.
Mixed Tape Music Magazine, a monthly online music show featuring 2001 BMW sticks to what it does best by cutting
video clips by artists like Jennifer Lopez and Mark Ronson and also 2000 Rover loose.
strengthened its engagement in New York’s Fashion Week as title
sponsor to increase the brand’s attractiveness among young buyers.

7.000 $m 21.000 $m

13
22,841 $m 4%
14
22,030 $m 3%

Gillette Cisco
Gillette experienced an increase of net sales this year, with Fusion Cisco is the leader in networking services but is still perceived as
and Venus as the largest contributors. Gillette holds strong as the catching up in other parts of the computer services industry. It has a
“best for men” for personal care, owning 70 percent market share strong reputation for quality and reliability, boasting more than

$m

17
.5
00
of manual blades and razors. The brand maintains high visibility by a quarter century in this relatively young industry. Its heavy invest-

00
.5

promoting classic and consistent innovation for the category,
renewing celebrity contracts with Roger Federer, Tiger Woods, and
Thierry Henry, and sponsoring the MLB in the U.S. In the digital
$m
10
ments in R&D, and its stated mission to innovate to customers’
needs, signal Cisco’s shift to become a broader provider of hardware
and services, which should increase the role of its brand.

14.000 $m
space, Gillette expanded its customer dialogue with online shaving
“how tos” and has also seen high growth in developing regions,
driven primarily by the expansion of Fusion and the Prestobarba 3
launch in Brazil.

15
21,671 $m -7%
16
21,120 $m -2%
17
19,010 $m -11%

BMW Louis Vuitton Marlboro

BMW remains relatively healthy even though revenues decreased
about five percent this year. Its dip in profit was mainly attributed
to the high costs to cover risks on used car resale prices and the
softening demand in the economically troubled U.S. market. The
Bavarian carmaker still carried on with its strategy to build highly
efficient cars that promise joyful driving, and to fill niches with
innovative vehicles like the large X6 Sport Activity vehicle and the
5-series GT. Its EfficientDynamics initiative, which includes gadgets
like Brake Energy Regeneration or High Precision Injection, turned
out to be a sales boost with more than one million vehicles sold
worldwide. With its ConnectedDrive concept, BMW pushed
another forward-looking innovation, converting a car into a mobile
communication platform to enhance safety, convenience, and
service quality. The huge numbers of visitors to its recently opened
brand temple, the BMW Welt in Munich, is evidence that BMW
continues to fascinate consumers.
Louis Vuitton actively continues to expand its retail network, which
now totals 425 stores. Its direct channel through retail has been
instrumental in maintaining a connection with consumers during
the recession. The Louis Vuitton brand is also gathering strong
momentum in China, which now accounts for 20 percent of its
revenue. The “Core Values” campaign, which explores the idea of self-
discovery through traveling and features a series of Annie Leibovitz
portraits of celebrities such as Sean Connery, Catherine Deneuve,
and Mikhail Gorbachev, has received much positive acclaim within
the advertising industry. This has reinvigorated the brand’s status as
a classic. This year, Louis Vuitton also developed the Damier Graphite
range, which includes luggage, shoes, and other accessories that
specifically target men.
Consumers are loyal to the Marlboro brand and it continues to
grow in fast developing markets. However, it is getting tougher and
tougher for cigarette brands each year as governments across the
globe voice their disapproval of the industry. The U.S. saw the
passage of the FDA Tobacco Regulation Bill in June, which provides
the government with extensive power to regulate tobacco products.
Marlboro has been innovating around increasing government
regulations. For example, for smoking indoors in public spaces, it
has created Taboka, a smokeless tobacco. In some of its biggest
markets, Marlboro will face challenges. It will be forced to cover 50
percent of the front and back of its packs with warning labels, end
sweetened and spice-flavored cigarettes, stop color print advertising,
and eliminate labels like “mild” and “light.” The brand’s European
performance, however, suggests it will manage around these hurdles.

28 I Interbrand Best Global Brands 2009 Interbrand Best Global Brands 2009 I 29
18
17,803 $m -7%
Honda
Increased motorcycle sales are offsetting Honda’s losses as its auto
sales crumble in the U.S., Japan, and Europe. While Honda’s revenue
has been affected by the recession, the brand continues to build
strength. The fact that Honda never produced large SUVs and trucks
is now an advantage. As other automakers are increasing production
of their small cars, Honda is cashing in on its reputation of reliability,
fuel efficiency, and craftsmanship.
20
15,433 $m 12%
Apple
The recession won’t take a bite out of this Apple. Declining Mac sales
and fears for the company’s future without brand visionary Steve
Jobs, were outweighed by record high iPod sales, doubling sales for
the iPod Touch, and all-time high market share for Mac OS software.
Price might be a barrier for cost-conscious consumers, but Apple
21
15,375 $m 11%
H&M
Unlike competitors such as the Gap, Swedish clothing store chain
H&M said that it plans to create between 6,000 and 7,000 new jobs
during the year by opening 225 new stores around the world.
H&M continues to diversify with product mix, store expansion,
and design. While CEO Rolf Eriksen’s summer 2009 retirement
has sparked a potential succession issue, H&M’s continued focus on
“nano fashion” (real time adaptability), price, CSR, and fashion
designer collections have helped it grow.
30 I Interbrand Best Global Brands 2009
19
17,518 $m -1%
Samsung
Samsung had another successful year. Strong product development
has resulted in global leadership in the television segment, and in
improving its position from the third to second player in mobile
phones. New concept shops have been successful in translating to
a more expert and demanding audience by showing the benefits
of engaging with the brand. However, challenging conditions in
the components business compromised overall brand value
creation last year.
responded quickly with high margin, low-priced products like the
US $99 iPhone and a new, voice-activated iPod Shuffle. The Apple
brand is the most supported within its industry, and among the
most iconic of relatively young brands in the world.
22
14,971 $m -32%
American Express
American Express is feeling the effects of the credit crisis, suffering
a surge in delinquencies and job cuts. Its public image has also
suffered from the credit card crisis. Bolstered by its new bank holding
status, the firm has reduced exposure to riskier credit card products
and is focused on its core charge card offering. Its extensive investment
in its brand through advertising, loyalty programs, sponsorships, and
key partnerships show the firm’s focus to solidify the brand’s trusted
and premium image and to maintain the brand’s iconic status.
23
13,706 $m 3%
Pepsi
Pepsi is a brand on the rise. In the past year, it went through a
complete design refresh of its entire product line in an effort to spur
sales. It also introduced new, limited edition products such as Pepsi
Natural and Pepsi Throwback–products made with the natural
sugars of the 1970s. Its new campaign, “Refresh Everything” has
been incredibly successful as well, creating buzz in the U.S. This and
the introduction of Pepsi Raw indicate that Pepsi is doing all it can to
catch up to Coke by raising the innovation stakes.
25
13,317 $m 2%
Nescafé
Nescafé, which was founded in the 1930s, still continues to grow
sales today–quite a feat given the recessionary conditions and
pressure from private label store brands in this very mature category.
That said, Nescafé generates most value from its high margins, not
necessarily growth. The brand has approached the challenging market
as an opportunity, increasing ad spend by six percent to consolidate
the customer relationship when media was cheap. Additionally,
Nestlé is dedicating resources to a new campaign for its flagship
brand addressing price, taste, and bean quality. Recently, it has even
made aggressive moves to target a new competitor in instant coffee,
Starbucks VIA.
27
12,106 $m -1%
SAP
With the launch of its new global campaign, “It’s time for a clear new
world,” SAP is focusing its message on the visionary and powerful
real-time role that its software plays in business partnerships.
Having reported heavy investments in R&D for 2008, SAP must keep
24
13,699 $m -1%
Oracle
Oracle has seen more category leadership as it beats out competitors
in application sales and new software license revenues. With the
recent purchase of Sun Microsystems, Oracle also acquired MySQL,
and entered the hardware category. Its partnership with HP on a
new database machine puts Oracle on track to steal market share
from both Microsoft and IBM. As Oracle invests US $3 billion a year
in R&D, its future success looks promising.
26
13,179 $m 4%
Nike
Instead of cutting back like many of its competitors, Nike has done
well by staying the course and moving ahead with big strategic
plans–a move that served it well in the last recession when it then
pulled out ahead of industry leader, Reebok. This year, it unveiled
a line of eco-friendly products, which aim to use sustainable,
recyclable materials. Ultimately, the move should translate into
better profit margins for the future. While there have been layoffs
twice this year–the first time since 1998–indicating problems
with the cost structure during the downturn, Nike is still far ahead
of its closest competitor, adidas.
its promise clear and its product stronger in an increasingly
competitive market where many are vying for its longstanding
customer base. SAP is doing well by continuing to invest in their
brand as a strategic asset during this economic crisis.
Interbrand Best Global Brands 2009 I 31
 Brands to Watch
New global players in financial services By Carola Jain

The financial services market has seen a recent reshuffling. Some brands are emerging out of the financial crisis
stronger than ever. Here’s a look at three brands that are growing their market position and leadership status.
1. Barclays
The British banking icon is emerging out of the crisis stronger than many of its peers. It appears that the company
made a good decision not to take government money in December and the sale of BGI enabled the firm to stay
liquid and benefit from new opportunities. Barclays has done a good job integrating Lehman’s U.S. operations.
It is definitely a brand to watch.

2. Credit Suisse
The 150-year-old institution is moving up the ranks. The firm did not require government funds and is one of the
key beneficiaries of the reshuffling of the marketplace. In the private banking space, Credit Suisse has profited from
the weakening of its main rival UBS, while, at the same time, increasing its market share and leadership status. The
Credit Suisse brand is positioned as a key pillar of the newly restacked financial services sector. The brand has what it
takes to become a leading player.

3. Santander
Grupo Santander began its expansion abroad in the early 1980s. With the acquisition of Abbey National, it became
a top international bank. The group’s next strategic move is to establish the brand in the U.S. retail-banking market;
the recent Sovereign Bank investment is the first step towards building a renewed U.S. presence. Santander wants
to become one of the world’s top two or three largest banks. Let’s see if the brand can benefit from the recent
opportunities in the U.S. retail-banking sector.

28
12,004 $m 10%
29
11,953 $m -12%
30
11,833 $m 3%
31
11,594 $m -8%

IKEA Sony Budweiser UPS

Despite tightening wallets, IKEA sales are up seven percent year on
year. Now that more people are opting to spend more time at home,
IKEA has taken a new lease on life. It also remains truly popular
online. (IKEA websites are among the most visited, attracting around
450 million visits a day.) Customers still camp out before a new store
opening. This year, IKEA continued to diversify and launched a pay-
as-you-go mobile phone service in cooperation with T-Mobile that is
25 percent cheaper than similar pay-as-you-go offers.
Sir Howard Stringer has his hands full trying to turn around Sony’s
performance. The appreciation of the yen and the decline of Japan’s
stock market have not helped sales, but the problems for Sony run
much deeper than the economy. Competitors have surpassed its
market share in almost every category that it once dominated.
A dinosaur compared to its peers, Sony must make a major shift.
The few bright spots for Sony this year include the eco-Bravia and
Stringer’s revamp of his management team to include fresh,
young talent.
Budweiser has not been entirely immune (Budweiser and Bud Light
both saw losses in market share despite a growth in volume), but has
fared well through the crisis. It focused on building its value globally,
particularly in Asia Pacific, with a football tie-in campaign in
Vietnam. As China is now the biggest beer market in the world,
Budweiser is building its sales network. It just successfully launched
a new product in the U.S. and Canada, the Corona competitor, Bud
Light Lime. Although the product’s lasting success is unclear, Budweiser
should continue to perform well in the future.
With less trade, there are fewer parcels going around. The flow of
goods declined as protectionist tendencies in crisis boosted regula-
tory barriers. As a result, UPS’s revenues declined by 13.7 percent. It
will take two years for UPS to get back to where it was last year. UPS
is building a new air hub in China. The reduction of DHL’s presence in the
U.S. is helping it ride out the economic storm with less competition
in its home market. Despite a decline in profits, UPS still invested in
its brand. It spent about US $200 million on ads, sponsored the PGA
Europe, and focused on its UPS YouTube channel and other e-media.

32 I Interbrand Best Global Brands 2009 Interbrand Best Global Brands 2009 I 33
32
10,510 $m -20%
HSBC
Relatively resilient to the effects of the global financial crisis, HSBC
was one of the few firms to report a profit for 2008. Despite concerns
of continued subprime mortgage exposure, the HSBC brand is
performing fairly well, in part due to effective leveraging of online
and self-service platforms and a growing exposure to emerging
markets. Capitalizing on the weakened competitive environment,
HSBC has continued to bolster its brand, delivering on its mission
to be the “World’s Local Bank.” It recently completed the acquisition
of Bank Ekonomi in Indonesia, doubling its footprint in the world’s
fourth most populous nation.
34
10,428 $m 7%
Kellogg’s
Kellogg’s increased its net sales but has still felt price point pressure
from private labels. In an effort to communicate the quality of its
brand to cost-conscious consumers, it has turned its focus from
healthy eating to emphasizing quality products. It introduced 151
new and updated products inspired by worldwide innovation teams
and website activity. The brand has also made several acquisitions
that add to its product portfolio, as well as expanded the distribution
of its North American cereal and snack brands with a “direct store
door” delivery system to ensure prime placement at point of sale.
Online, Kellogg’s is engaging with family-minded consumers via
recipes, coupons, and newsletters. It is also heavily promoting its
partnership with Feeding America, the largest U.S. food bank network.
36
10,254 $m -49%
Citi
The unstable Citigroup received a government bailout of US $45
billion to keep the business afloat. No longer considered a leader in
financial services, Citi is in survival mode, selling off several businesses
in an effort to streamline operations and focus on core competencies.
The recent shedding of SmithBarney is also indicative of a shift away
34 I Interbrand Best Global Brands 2009
33
10,441 $m -4%
Canon
Canon’s profit fell 83 percent in the first quarter due to the low sales
of multifunction copy machines and printers. The decline is also due
to the stronger yen, which caused the prices of copiers and printers
to increase. Despite the decline of sales, Canon launched 23 state-
of-the-art digital cameras and camcorders, which were all very well
received. As a result, Canon emerged as number one in the Digital
SLR segment, with 54 percent market share.
35
10,291 $m -12%
Dell
In the first quarter of 2009, HP dethroned Dell as U.S. market share
leader. This was due, in part, to Dell’s failure to fully adopt netbooks
as a flagship product in timely manner. The role of brand is falling in
its sector as well, as consumers focus on price and “bang for the buck”
functionality. Still, despite losing ground to competitors, Dell’s track
record of successful branding and efforts to cater more directly to
needs of customers is allowing it to stay in the mix. Recent efforts
to further target students may help rally Dell’s position and prevent
further losses.
from the financial supermarket model that Citigroup has followed
for the past decade. Citi’s troubles have been highly publicized, and
recent moves to increase transparency and overhaul its upper
management may not prove sufficient to rebuild customers’ trust.
37
9,550 $m -11%
J.P. Morgan
As one of the only banks to return a profit in the fourth quarter of
2008, J.P. Morgan is in a better position than many rivals. As a key
player in the consolidation of the U.S. financial industry, the firm
has benefited from the acquisition of Bear Stearns and the further
expansion of its footprint via the purchase of WaMu. These new
divisions will bolster the firm’s capabilities in key areas, but J.P.
Morgan still faces the arduous task of digesting and rebranding
these acquisitions. Worldwide, J.P. Morgan has entered several new
markets in the last year, including Hong Kong and the OTC derivatives
market in Korea.
39
9,210 $m 5%
Nintendo
Nintendo broadened the gaming population by offering innovative
but easy-to-play games. Wii has become the fastest-selling console
ever. It shipped more than 50 million units of the console since its
launch three years ago. Nintendo reported that profits in 2008 were
the strongest on record but said that it would struggle to repeat the
performance as sales of its two main consoles–the Wii and the DS–
level off and foreign exchange turmoil destroys margins.
41
8,182 $m -1%
Gucci
In 2008, Gucci reinforced its network of directly operated stores
around the world, a strategy that has proven successful in the past.
While sales in Western Europe were mixed, a large retail presence
(particularly in Asia) has proven to be a key asset in the current
climate. It has also helped put an emphasis on its 90-year history of
craftsmanship and heritage. This year, Gucci furthered its expansion
in emerging markets, where sales rose by 21 percent, strongly driven
by China.
38
9,248 $m -10%
Goldman Sachs
Like other financial services companies, Goldman Sachs is suffering
the effects of the crisis. However, it is in a more stable position than
many of its competitors. It recently passed the government’s stress
test and is determined not to take any more federal assistance. It
beat its first- and second-quarter forecasts by significant margins
and recently repaid its TARP loan. While Goldman is moving toward
rebuilding and solidifying its customer trust in the brand, the fact
that it is enjoying its profits as high as they were in 2007 has had a
negative impact on its consumer perception.
40
8,434 $m 1%
Thomson Reuters
Thomson Reuters continues on an upward path, securing lead
product ranking in almost every business segment. While the
financial segment of the business has not been immune to the global
recession, its diversified portfolio of audience-specific offerings
allowed it to weather the market turmoil. It is in a strong position
for continued growth. Thomson Reuters’ continued investment in
the brand and strong portfolio of flagship brands is beginning to pay
dividends as the company continues its drive towards becoming
one unified firm.
42
8,121 $m -2%
Philips
The Philips brand stands for a broad set of businesses in consumer
electronics, lighting, and healthcare. Its bet on generating innovative
and unique solutions for clients and consumers seems to pay off
in times of economic difficulties. Consumer electronics were most
affected over the last year, but their decline was offset, to some
extent, by brand value growth in the other sectors. Philips is utilizing
its brand as a central organizing principle. The company unites the
business under the master brand and focuses coherently and
consistently on sense and simplicity.
Interbrand Best Global Brands 2009 I 35
43
7,858 $m 22%
Ford’s Performance: 2000-Present

0 $m
Amazon.com
Although Ford avoided filing for Chapter 11
The multi-department retailer is confirming why you are best off Amazon.com will begin selling e-books for reading on Apple’s iPhone

$m
unlike Chrysler and GM, it saw unsettling profit

5.
not owning a retail footprint in a recession. Analysts say Amazon has and iPod Touch. In the fourth quarter of 2008, Amazon partnered

00
losses and was forced to sell off its weak brands.

00
2009

.0
$m
benefited from the downturn in the U.S., in particular, with struggles with manufacturers to reduce packaging with an eye towards 2008

35
2007 CEO Alan Mulally sells ill-fitting luxury
at the Borders book chain and the bankruptcy of Circuit City all sustainability. Partners include Fisher-Price, Mattel, Microsoft,
2006 divisions, with hopes to streamline and
driving traffic to Amazon.com. Amazon’s release of the Kindle and and electronics manufacturer, Transcend. 2005 gain focus.
the continued improvement of its site to enable access from 2004
anywhere have also contributed to its upward path. Additionally, 2003
2002 Ford admits to pursuing strategies that
2001 were “poorly conceived and poorly timed.”
2000

44
7,748 $m 3%
45
7,710 $m -3%
10.000 $m 30.000 $m

L’Oréal
The world’s leading cosmetic and mass-market beauty brand contin-
ues to grow its sales, notably strengthening its positioning in Asia as
an expert in Asian skin care, and reinforcing its presence in all regions
worldwide. L’Oréal maintains the number one spot for hair colorants,
and this year set new records for its skin care product sales. It has
Accenture
With clients holding back on major transformation programs,
especially where they lead to capital investment, Accenture is
starting to feel the pinch. Its presence is limited to 52 countries
and management and IT consulting, so Accenture must evaluate
its long-term strategy. This year, the business made strides in its

25
$m

.0
conducted thousands of research tests to expand its offering to men commitment to the environment with its achievement of ISO

00

00
.0

$m
and women of all ages and ethnicities, with L’Oréal reflecting this in 14001 certification, which helps organizations better manage

15
its choice of high-profile spokespeople. their environmental impact and risk, while demonstrating their
environmental commitment to their stakeholders.

20.000 $m
46
7,350 $m -8%
47
7,308 $m -8%
48
7,244 $m 9%
49
7,005 $m -11%

eBay Siemens Heinz Ford

Despite predictions, eBay is not benefiting from the recession. Its
marketplace business posted a 16 percent decline in the last three
months of 2008 and faces tough competition from Amazon.com.
This is linked to the discretionary nature of much of its sellers’
inventory. To consumers, Amazon seems like a less risky place to
shop. Lawsuits from luxury brands, which cost eBay US $32 million
to settle, have cemented its image as a channel that could benefit
from more regulation, as opposed to a managed retail environment.
Still, it remains the most popular option in the start up B2B world to
get wide distribution at a low price with high visibility.
Siemens, like other diversified brands, is struggling with the double
whammy of the financial crisis and its impact on global infrastructure
investment. If it has any growth to look forward to, it will come from
the deployment of state assisted eco/progressive investment projects.
Siemens has also lacked communication of the core brand idea.
Additionally, it does not have any clear sustainability strategy, which
limits its potential. While the brand has made moves to correct this,
like investing in ISE Corporation, which provides environmentally
friendly hybrid technology for heavy-duty commercial vehicles, it
faces fierce competition from businesses like GE. This year, its invest-
ment of US $15 billion in the intellectual foundation of the company,
including new products, training, marketing, and programming may
serve it well.
Although category competition is heating up as lower-price private
labels gain strength, Heinz reported a 12 percent increase in sales
last year. The brand is focusing on a customer-centric health and
wellness model, developing healthier products, eliminating
bisphenol A from packaging, and taking advantage of consumers
dining at home. In 2008, emerging markets accounted for 25
percent of Heinz’s growth, as it promoted flagship products, such
as Heinz Ketchup, in Asia. The brand reports a long-term plan to
increase marketing spend as it widens its consumer base.
Ford has seen revenues decreasing, despite early efforts at reinvent-
ing itself. It hopes to become what Chairman William Ford Jr. calls
a “global, green, high-tech company.” Like the other Detroit “Big
Three” it was forced to restructure its brand portfolio by selling weak
brands, but did not succeed in finding a buyer for Swedish carmaker
Volvo. Unlike Chrysler and GM, it was able to avoid filing for Chapter
11. Despite its embattled business, Ford courageously launched one
of the most aggressive vehicle electrification programs in the industry.
By 2012, it plans to produce at least four high-mileage vehicles
that will use the newest forms of battery technology in a family of
hybrids, plug-in hybrids, and battery-powered vehicles. The move to
green will take a long time and it remains to be seen if the consumer
can be convinced that this is more than just greenwashing. In the
meantime, Ford pushed forward its plans of introducing European
compact models like the Fiesta to the U.S. in order to adapt quickly
to the changing consumer needs.

36 I Interbrand Best Global Brands 2009 Interbrand Best Global Brands 2009 I 37
50
6,789 $m 14%
Zara
Throughout the downturn, the Spanish clothing chain’s revenue
has continued to increase. Unlike competitors, Zara does not have
an issue with product life cycles, as it has an extremely efficient
turnaround of new products. It is also getting a lot of credit from the
market and analysts for its innovative logistics system, which allows
it to get product from design to shelf months faster than competitors.
The brand is gaining more of a leadership position right now, too,
due to its low price for the latest trends perception. The enigma is
that Zara is not a big advertising spender and instead builds aware-
ness through word-of-mouth and retail presence.
52
6,550 $m 2%
Colgate
Colgate boasts a 10 percent revenue increase in its oral, personal,
and home care categories. Despite price point and general
competitor pressure, Colgate reports that its toothpaste has gained
market share in countries including the United States, Mexico, Brazil,
and China, with record equity in the U.S. for whitening toothpastes.
Colgate continues sponsorship of dental conventions and dental
professionals to promote its image as the reference brand for oral
health products.
54
6,523 $m -9%
MTV
MTV is synonymous with youth and change. The brand is attempting
to stay fresh and relevant to its target customers by drawing real
time online audience insights with the help of new partner,
Collective Intellect. A slate of new programming targeted at the
millennial generation aims to turn around the network’s recent
ratings decline, and reestablish the brand’s connection with its core
audience of 12- to 34-year-olds. MTV continues to invest in new
38 I Interbrand Best Global Brands 2009
51
6,731 $m 10%
Wrigley
Wrigley has seen most of its growth come from foreign markets,
with more than 60 percent of sales coming from outside of the U.S.
Orbit varieties are on a continuous flavor rollout, with new flavors
added or cut each year based on consumer feedback and buying
power. This year, Wrigley has embraced the fruit flavored gum
trend, working to introduce a new line of its signature Extra brand
along with the launch of Orbit Mist. It also continues to promote its
brands as part of a healthy lifestyle, with a website feature section
called “Benefits of Chewing.” Under the new ownership of the Mars
umbrella of brands, Wrigley will take on the non-chocolate confec-
tionary brands, including Skittles, Starburst, Tunes, Lockets, Rondo,
Kenman, Swinkles, and Lucas.
53
6,525 $m -7%
AXA
AXA has made great efforts to stabilize its business by consolidating
and restructuring across the globe. This has resulted in a new
financial advisory and insurance service, Bluefin, which integrates
a number of AXA-backed companies, and the rollout of a new
corporate communications strategy. In addition to streamlining its
portfolio, AXA is currently in a watching-and-waiting mode as it tries
to reassess its long-term goals and restore consumer confidence.
Accordingly, the brand has not entered any new markets.
media, with offerings like its “MTV soundtrack” site, which lists all
songs that air on the network’s shows, and offers the opportunity to
purchase them direct from iTunes. The brand has bounced back from
slumps in the past–although continued and lasting success this time
will depend on whether or not its innovations resonate with today’s
increasingly fickle youth.
55
6,484 $m -8%
Volkswagen
Due to its wide market coverage, Volkswagen has benefited from
government incentive schemes around the world. The question
remains as to how well a car company can maintain demand and
service its heavy borrowing and capital requirements. Possible
integration with Porsche poses serious risks to management focus
given the identification of cost saving synergies drawn from the
combined group, which may impact the customer experience. With
these sources of uncertainty, the brand has been marked down.
Still, it has a strong position in markets like China and Brazil and has
56
6,431 $m 1%
Xerox
There has been a slowdown in office equipment sales, but Xerox’s
moves to cut costs put it in a good position early on. But competitors
are facing the same challenges. As the category leader, Xerox is still
assessing and attacking challenges before they arise. Xerox just
introduced a new series of printers for enterprise customers that
are built around a novel, environmentally friendly technology that is
cleaner, costs less, and is more reliable.
58
6,319 $m 13%
Nestlé
The world’s largest food company keeps moving ahead by maintain-
ing focus on global growth and development. Doing so has kept its
brand top of mind for consumers. One of the top worldwide
advertisers, Nestlé is also the leader in food safety and quality. It
voluntarily pulls products off the shelves when it doesn’t feel
standards have been met. In developing countries, Nestlé launched
health, water, and nutrition initiative in partnership with govern-
ments and NGOs. Nestlé recently opened an R&D center focused on
health in China, and new African headquarters in Kenya.
announced its intent to become the number one carmaker world-
wide in sales volume by 2018. There are signs that the road ahead
looks good too. The Tiguan SUV success story confirms that, despite
being a latecomer in the small SUV segment, its quality vehicles
meet customers’ taste like no other. Volkswagen is keeping pace in
new driving technologies as well. With its BlueMotion program and
its LPG and EcoFuel engines, it already offers a fuel-efficient concept.
57
6,399 $m -26%
Morgan Stanley
The financial crisis hit Morgan Stanley’s brand leadership position.
Despite a strong performance in core business segments, the firm
has reported two consecutive negative quarters. Morgan Stanley’s
move to form a joint venture with SmithBarney shows leadership
focus on reformulating strategy. It is to be seen if and how quickly
Morgan Stanley can recapture some of the brand strength it has lost.
59
6,040 $m -5%
Chanel
Chanel is expecting some small growth in 2009, although the realities
of the market have stunted some of its innovative marketing
ambitions. For example, Chanel’s Mobile Art Pavilion, an exhibition
of 50 artworks inspired by Chanel bags that garnered much atten-
tion, was called off early due to the economy. Additionally, the brand
still suffers for its popularity among counterfeiters. Chanel remains
the top counterfeit brand in South Korea. However, like other luxury
brands, Chanel’s history and heritage helped it remain relatively
stable–and familiarity with the brand is likely to explode after the
release of the biopic Coco avant Chanel starring Audrey Tautou.
Interbrand Best Global Brands 2009 I 39
60
5,960 $m 10%
Danone
Innovation and expansion continue to grow sales for the global food
and beverage powerhouse. The leader of fresh dairy (Danone also
holds the number two and number three positions for bottled water
and medical nutrition respectively) boasts 20 percent market share
worldwide. Decline in dairy sales is a risk for the brand, but Danone
stays focused on high performing brands like Activia and Actimel,
with baby food and medical nutrition bolstering profits. Danone
looks poised for more global reach, having recently raised
US $4.3 billion–its first capital increase in 22 years.
40 I Interbrand Best Global Brands 2009
61
5,722 $m 3%
KFC
KFC continues to prosper across Asia, with expanding markets in
China and Japan contributing to its gains. Its healthier offerings have
also received a fair share of attention this year in the U.S. However,
not only did the launch of its Kentucky Grilled Chicken meal become
a PR disaster when it could not supply enough coupons to meet
demand, but the move towards grilled chicken also risks potential
confusion about a company dedicated to offering fried chicken.
62
5,397 $m 6%
adidas
Adidas has held up well in the downturn by focusing on innovation
and exclusive adidas technology. Some of its popular, newer products
include the Supernova Sequence 2, which reduces impact and forces
pronation velocity. Other new products include ClimaCool, a material
that helps maintain an athlete’s body temperature at a desired 37
degrees, and its co-branding effort with Vespa. Additionally, adidas
developed a new fashion line, adidas SLVR, and its Originals line
celebrated “60 Years of Soles and Stripes” at Milan Fashion Week
Spring/Summer 2009. This year, adidas strengthened its profile in
fast developing markets in Asia, Europe, and Latin America. Adidas is
particularly growing in China where it is on track to generate over
US $1 billion in sales by 2010.
63
5,138 $m 7%
BlackBerry
RIM continues to lead the U.S. smartphone market with the
BlackBerry brand. It is first in smartphones globally with around 16
million subscribers worldwide–double from the previous year.
Overall, BlackBerry must continue to innovate and push its product
line to compete with Apple from a brand standpoint. BlackBerry
has made a more compelling case in the past year, and has likely
elevated the role that brand plays. BlackBerry continues to be the
business phone of choice.
Interbrand Best Global Brands 2009 I 41
64
5,111 $m -7%
Yahoo!
Through Jerry Yang’s failed tenure, Yahoo! showed its cards and lost
its leadership. Yahoo! reported a net loss of US $303 million, or 22
cents a share, compared with a profit of US $206 million, or 15 cents
a share, a year ago. As a result, Jerry Yang had to retire as Yahoo! CEO
and the company was forced to lay off employees. In the next year,
Yahoo! needs to provide consumers with a compelling case as to why
65
5,010 $m -7%
Audi
Audi’s vehicle sales jumped about four percent and its net profit
increased 30 percent this year. It sold one million cars in a year for
the first time in the company’s history. By 2015 it wants to become
number one in the premium segment and surpass its competitors,
BMW and Mercedes. To strengthen its market position, it introduced
diesel-powered vehicles in the U.S. It continued to complete its
model range and plans to launch an even smaller SUV–as well as
the A1 and A2 in the compact segment–to target buyers of smaller
and efficient vehicles and SUVs. While others are cutting back
marketing efforts, Audi increased its advertising budget in the U.S.,
spending 20 percent more than during the previous year. Never-
theless, the long-term outlook for Audi, in this premium and highly
discretionary segment, is not all good news. Pursuing a strategy
of range and capacity expansion in a climate of falling demand and
oversupply, especially in its German heartland, represents a significant
risk to the value of the brand.
67
4,917 $m -7%
Avon
Product line simplification is pushing Avon into a “less is more”
product proposition. Avon struggles to innovate and gain market
share against higher-ranked L’Oréal, but its growing sales force (with
former employees from other struggling industries) adds strength to
its direct selling channel. Avon has increased advertising investment,
and supported product launches and charity causes with continued
celebrity endorsement. “Smart value” is Avon’s angle on innovation as
it picks up revenue in Latin America and China.
42 I Interbrand Best Global Brands 2009
it is relevant. Its recent partnership with Microsoft Bing looks like
a move in the right direction. The deal should accelerate the pace
and scope of Yahoo!’s innovation and give Google a run for its money
by combining both companies’ complementary strengths, creating
better searching, and improving value for advertisers.
66
5,004 $m -5%
Caterpillar
Caterpillar has become a bellwether for decline but also recovery.
Its business is very much tied to Europe and the U.S. where there are
declining markets. The company posted surprisingly good numbers
last quarter after reducing workforce costs, but its revenue is still
down. The question is whether the brand can successfully leverage
its strong Western presence and begin to capture emerging
opportunities. It has already made efforts to expand into China, as
well as other regions, so it has laid the ground work for growth.
68
4,609 $m -7%
Rolex
There’s no doubt that luxury watch sales are suffering. Clothing and
accessories have proved more durable during this recession, but
jewelry, in particular, is suffering due to the fact that it’s a more
costly purchase that can be postponed. Still, despite decreasing
sales, Rolex continues to invest in its brand through sponsorships
like Wimbledon. It also avoided the risk of compromising the
integrity of its brand through price drops by personally purchasing
back inventory from dealers who struggled to sell Rolex watches.
The move puts Rolex in a good position. Its short-term losses are
likely to be countered with a steady recovery.
69
4,604 $m -5%
Hyundai
Hyundai has polished its image over the last year with ambitious
product launches and high-visibility marketing efforts. The Genesis,
which launched in Korea and the U.S., supported by three Super
Bowl advertising spots, is the brand’s first US $30,000-plus sedan.
The hugely successful “Assurance” campaign, built around a promise
to buy back a new Hyundai from a customer if they lost their job, was
truly innovative and struck a chord with the market in the midst of
the economic downturn. Hyundai has ambitious plans to leapfrog
Toyota in green technologies in the U.S. market by 2015, in hopes
that this strategy will win a loyal audience. Its global sponsorship of
the upcoming 2010 World Cup in South Africa will continue to build
awareness and familiarity.
71
4,404 $m -5%
Kleenex
Kleenex maintains overall performance, increasing sales by 30
percent in developing and emerging markets and diversifying its
consumer participation campaigns. With lower price competitors
and private labels angling to gain market share in current economic
conditions, Kleenex is asking consumers to “Feel the difference.”
The brand synonymous with its product used proprietary technology
to increase softness and strength and create a new product: Kleenex
Facial Tissue with Lotion. It plans to extend this into other products
in the Kleenex portfolio. Kleenex also reminded consumers why
“It feels good to feel” by launching its largest sampling campaign,
in-store, in-home, and online with user-generated “memories” and
designs. Additionally, it is developing visual trends, which match
patterns and textures to consumers’ lifestyles.
73
4,337 $m -43%
Harley-Davidson
The credit crisis has significantly dampened sales even of an iconic
brand like Harley-Davidson. Revenues fell for the second consecutive
year. While sales growth in particularly bouyant markets like Latin
America helped, a 13 percent sales plummet in the U.S. hit hard.
The company continues to focus on reinforcing its heritage, which
remains strong, by opening a Harley-Davidson Museum in
70
4,598 $m 1%
Hermès
Leather goods–the brand’s archetypical offering–are holding up rela-
tively well in the recession. However, Hermès’ strong performance in
leather, accessories, and scarves was offset by weaker performance
in perfumes, watches, and tableware. In line with the category as
a whole, the Asia Pacific region is driving Hermès’ performance,
while sales in the Americas are on the decline. Store openings and
renovations are taking place in 2009, especially in Asia. In an effort
to diversify, Hermès has signed an agreement with a luxury yacht
designer to help develop innovative projects in the yachting world.
72
4,370 $m -50%
UBS
UBS has been hit hard on all fronts. It is buckling under the weight of
poor financial performance and an international tax conflict. Despite
assistance from the Swiss government, the bank has not invested
money in supporting the brand. Brand trust and attachment is
consequently lower than ever. Recent developments resulted in the
loss of key talent to rival institutions. Even if UBS manages to regain
stability, it will have a difficult time rebuilding trust in the brand. 
its hometown of Milwaukee to coincide with the 105th anniversary
of the company, and creating a 1940s inspired Cross Bones bike. It
has also been making strides to appeal to younger customers, with
the launch of the Iron 883 in January (with a suggested retail price
under US $8,000) and the Dark Custom.
Interbrand Best Global Brands 2009 I 43
74
4,234 $m -8%
75
4,225 $m -1%
80
3,847 $m 7%
81
3,831 $m -5%

Porsche Panasonic Johnson & Johnson Allianz

Porsche announced its best business performance in its history in
2008, with sales in China jumping a whopping 90 percent, despite
a decline in sales in the U.S. and Germany. It continues to introduce
new models, with plans to appeal to a wider, more family-oriented
audience through its launch of the first four-door in the company’s
history. But there are always risks when diversifying a luxury
performance automotive brand into, for example, the “family”
segment. Porsche has seen unrivaled success with its Cayenne
concept, but the question remains as to whether, in the long-term,
value growth will come from new vehicle innovation or turning
attention to the development of the core 911 offer.
Despite harrowing market conditions and a high yen contributing to
a net loss of US $4 billion for fiscal 2009, Panasonic looks positioned
to emerge strongly when the economy turns. 2008 saw the company
gain access to advanced battery and solar technologies in acquiring
a majority stake in rival Sanyo (it’s currently unclear whether the
Sanyo brand will be subsumed into Panasonic’s) and consolidate its
National range under the Panasonic brand. Panasonic also enhanced
its product eco-credentials captured by the internationally renowned
“eco ideas” strategy and recognized by the Global 100 Most Sustainable
Corporations project. Panasonic continues to pursue strategies
targeting the new middle classes in emerging markets and infra-
structural technologies in a bid to fend off lower-cost competition.
Reassurance and trust have become more important positioning
equities for Johnson & Johnson this year, and the brand is focusing
on relaying this through its messaging. Further integration with
Pfizer has allowed the brand to increase its range of products and to
actively promote health. The official healthcare sponsor of the 2008
Summer Olympics has increased sales in all geographic and
international regions: it holds leading positions in nine of the 15
major categories in which it competes.
Despite the sale of Dresdner Bank at a significant loss, Allianz’s finan-
cial services segment still managed to contribute a small net profit in
the first quarter. The bank reports that it doesn’t require government
aid, and a return to its core offerings last quarter has also fostered
favorable investor perception. Currently Allianz has plans to expand
its offerings and market by moving into the aviation insurance mar-
ket in Australia and New Zealand, widening its life insurance products
into China, and venturing into asset management in India.

76
4,000 $m -5%
77
3,968 $m -6%
82
3,754 $m -5%
83
3,716 $m -5%

Tiffany & Co. Cartier Moët & Chandon BP

Tiffany’ s sales declined most significantly in its U.S. stores, and to
a lesser degree in Asia Pacific and Europe. This has prompted a cost
structure review. The brand continues to receive support, with new
stores opening worldwide and the launch of a US $94,000 diamond
cell phone. It seems the brand may be trying to move away from its
position of “affordable luxury,” and positioning itself as more premium.
Cartier’s loyal high-end consumers have left the brand in relatively
good shape during the recession. Now, in an effort to capture the
interest of a younger audience as well, Cartier has become one of the
first luxury brands to embrace social networking sites. The brand’s
MySpace website features exclusive songs from artists such as Lou
Reed, Marion Cotillard, and Phoenix. Cartier also focused on
sustainability efforts with the launch of its “Love Charity” bracelet.
A portion of the sale of each bracelet will be donated to Action
Against Hunger. The international, non-governmental, non-
religious, non-profit organization tackles hunger in 43 countries
worldwide and seeks to alleviate childhood malnutrition.
Consumers’ switch to cheaper champagne or even cheaper sparkling
wines and prosecco, particularly in the developed world, has hurt
Moët & Chandon. Still, the brand has continued to invest in its
image. While it cut its media spending in 2008, it has leveraged its
relationship with the film business by sponsoring film festivals and
becoming the official partner of the Academy Awards. It has also
attached a face to the brand for the first time in the form of movie
star Scarlett Johansson.
BP has tried to position itself as the greenest among the traditional
big oil companies and has invested US $8 billion in biofuels and
renewable energy in the last five years. Newly branded products like
Invigorate, an additive formula that helps clean and protect engines,
and the Solar Sail BP demonstration project in China, a science
center powered by solar energy, have all helped boost BP’s “green”
perceptions. A 2008 study shows that BP tops all other brands in the
category. Overall, like Shell, the market is driving the brand’s fall in
profit. Its profit has fallen 18 percent.

78
3,922 $m -10%
79
3,876 $m -5%

Gap Pizza Hut

Economic conditions have forced Gap to make serious price
concessions. Gap’s cheap chic is not cheap enough, especially in
comparison to Target, Carrefour, or Wal-Mart. Meanwhile, the brand
continues to lose ground to brands that have bigger ideas, particularly
Zara. In the first quarter, 2009 sales were down 12 percent from 2008,
leading to 53 store closures in the U.S. Gap’s brand architecture is
also dissolving as functional benefits begin to outweigh brand benefits.
2008’s launch of a universal website which allows customers to
purchase from Old Navy, Banana Republic, and Gap in one shopping
cart, with one shipping fee, has led to one diluted brand experience.
Pizza Hut fared well with the increased emphasis on value. This is
probably due to revisions of the menu to include value products, as
well as differentiated products like pasta and wings. Pizza Hut has
also updated the look of its locations to reflect the expanding menu.
It has even branded some stores as “The Hut,” removing Pizza from
its name on boxes and store signs. The question is whether this will
prove to be a good move or one that compromises the core offering
of the brand.

44 I Interbrand Best Global Brands 2009 Interbrand Best Global Brands 2009 I 45

84
3,698 $m 3%
Smirnoff
Smirnoff continues to be the global vodka of choice. In 2008, it saw
an eight percent volume increase and a 12 percent sales increase.
It remains one of most marketed spirit brands in the world. It
increased its marketing budget in its home country of the U.K.
substantially in 2008. Smirnoff also saw success by linking its premium
Black Label brand to the James Bond film Quantum of Solace. While
Smirnoff still generally relies on the sale of its original vodka,
it has been trying out moves to taste infused vodkas as well.
46 I Interbrand Best Global Brands 2009
85
3,563 $m -3%
Duracell
The private label trading-down effect has negatively impacted
Duracell, signaling that the brand is having trouble retaining its
attraction to customers who instead go with price as the major
decision-maker. Duracell has combated this with a new ad
campaign “Trusted Everywhere,” that shows how its product is
linked to a heritage of safety, trust, and high performance.
Duracell has also announced a new USB Auto Charger that fits
almost entirely inside the DC outlet of a car or other vehicle.
The charger includes three different connectors to work with
a myriad of different devices.
86
3,557 $m 5%
NIVEA
The “Most Trusted Brand 2009” in 16 European countries, according
to Reader’s Digest, continues to demonstrate an ability to adapt to
customers’ needs. This year, it saw success with its relaunch of its
men’s products, which it updated with a modern and streamlined
package design. It also updated its NIVEA Visage line, targeted at
girls age 13-19. NIVEA continues to reach out to consumers directly,
getting them to test new products and help improve products
through market research. It also focused on expanding into fast
developing markets, having just inaugurated a new production
plant to manufacture body care products in Shanghai. The factory
will manufacture products that are specially developed for the Asian
market, such as NIVEA for Men, NIVEA Body, and NIVEA Visage.
88
3,527 $m 0%
Ferrari
The economic environment has had far less impact in the premium
sports car segment than the mass segment. People buying some-
thing as high-end as a Ferrari are likely to purchase it regardless
of the economic climate. Revenues increased 15 percent, profit was
up 28 percent, and vehicle delivery increased 1.3 percent from 2008.
North America remained Ferrari’s biggest market but sales were up
in all regions including Eastern Europe, Japan, and China. Ferrari
launched two new models in 2008. One was the California, the
brand’s first coupé-cabriolet model. Ferrari also opened new brand
stores in major international cities. Still, with pressure on luxury
markets the world over, wealth moving from West to East, and new
niche automotive brands joining the fray, the long-term market
outlook for Ferrari is changing, even if its value remained relatively
stable.
90
3,263 $m -16%
Starbucks
After 16 years of continuous growth, Starbucks is running out of
steam. This year was met with more than 800 store closings and
the deepest cost cuts in its history. Nearly 30 percent of Starbucks
customers are going less frequently than in the past. 84 percent
cited economic reasons. In reaction to new competition from value-
focused competitors like McDonald’s and its McCafé, Starbucks has
attempted to introduce products focused on value. For instance,
Starbucks launched VIA, a new instant coffee, to be sold in Starbucks
at lower prices. It also tried out breakfast foods. However, while
products such as these may help stimulate Starbucks growth in the
short-term, they’ve also contributed to a diluted brand image.
It is too soon to tell how the return of founder Howard Schultz will
impact the brand in the future.
87
3,530 $m -2%
Prada
Prada, like many luxury brands, is investing in new store openings in
cities around the world in an attempt to maintain a relationship and
create an emotional connection with consumers through a retail
footprint. It is also pulling out all the stops to tempt customers inside
its doors. Recently, it invited the world’s most reputable stylists to
revamp its stores in key cities such as London, New York, Milan, and
Paris. So far, its efforts have kept the brand relatively stable.
89
3,303 $m -6%
Armani
Following others in the sector, Armani is investing significantly in
new store openings, including the unveiling of a flagship store in
New York. Armani is also diversifying into luxury hotels and resorts
with a partnership with Emaar Properties. While the tiered lines
within The House of Armani (Emporio Armani, Giorgio Armani,
Collezioni Armani, and the fast growing Armani Exchange) appeal
to varied audiences at a number of different price points, the
diversification sets Armani up for the risk of brand dilution, especially
during a recession.
91
3,235 $m NEW
Lancôme
Thanks to innovation and its partnership with celebrities, LancÔme
has regained relevance. As a French brand it has an image of quality
and exclusivity. In the past year, Lancôme saw growth in emerging
markets. In Russia, nine out of 10 women know the Lancôme brand.
The Rénergie line reinforced its position as an anti-aging skin care
specialist with strong growth, particularly in Asia. The brand also hit
the headlines with the launch of Ôscillation, the first-ever vibrating
“power mascara,” which proved an unprecedented success. The
arrival of the artist Aaron de Mey as artistic director for make-up (the
man who spearheaded the first Pink Irreverence collection) marked
a new era of creativity.
Interbrand Best Global Brands 2009 I 47
92
3,228 $m -7%
Shell
The economy has put pressure on Shell, which has declined seven
percent in brand value. Choice has been driven by its proximity to
consumers and less by affinity to the brand. However, while not a
high role of brand business, what Shell does it does well. At the
consumer end of its organization, it operates one of the world’s
largest fuel retail networks with approximately 46,000 service
stations in more than 90 countries worldwide. In places like the
93
3,223 $m NEW
Burger King
Burger King’s strategy to expand its restaurants around the world,
as well as its recent product and marketing innovations, have been
profitable. It stretched the brand into a new format, launching the
Whopper Bar, a smaller footprint concept celebrating Burger King’s
iconic burger where customers can customize their sandwich. Based
on global consumer insight, the Whopper Bar corresponded well to
expectations and captured the attention of a broad audience, and
delivered on the “Have it Your Way” brand promise. This year, Burger
King also succeeded in increasing its awareness and positioning
among young consumers by using web advertising to present itself
as a relevant and cheeky alternative to McDonald’s. While McDonald’s
is becoming the conventional fast food for family, Burger King is
becoming the nonconformist’s fast food of choice.
95
3,161 $m NEW
Adobe
Adobe achieved record revenue and double-digit growth for the sixth
consecutive year. Adobe has grown through stretching its brand into
new areas, adapting to its consumer base and attitudes. Brand
preference is increasing as sales slump. This is evidenced in the adoption
of new innovations such as Adobe AIR, which had 100 million down-
loads in its first year, and the success of Adobe TV, which debuted in
April 2008 to more than 1.5 million views in two months, with video
content designed to educate and inspire creative professionals. Adobe
48 I Interbrand Best Global Brands 2009
U.S., the Middle East, and China, the brand stands for innovation
and new fuel choices (e.g., V Power). Although Shell is making some
efforts to improve its reputation, including investing in developing
biofuels, it lags behind competitors. Also, because its downstream
business continues to be most profitable, it is still greatly focused on
oil and natural gas exploration.
94
3,170 $m -5%
Visa
With the advantages of a pay-as-you-go lifestyle, there is a surging
popularity of debit card use by American consumers. Visa is well
placed to capitalize on the growth, as it controls two-thirds of the
U.S. debit card market. Total cards carrying the Visa brand rose 10
percent globally to 1.7 billion over the previous year. Additionally,
Visa surged ahead of Mastercard and Capital One in consumer trust.
In March 2009, the company unveiled its first global advertising
campaign, titled “More people go with Visa,” reflecting the company’s
evolution to a single, global company.
has managed to command more than 80 percent market share for
online video, due to its ubiquitous Flash software used by YouTube
and the majority of other online media sites. The Adobe Media
Player, which launched in April 2008 with content from CBS, MTV,
PBS, and Scripps Networks, will help maintain its position at the top.
Adobe is also spending more and more on its ad campaigns, which
often showcase user-generated content.
96
3,158 $m -12%
Lexus
Despite a decrease in sales in the U.S. and Europe, Lexus is still the
number-one-selling luxury auto brand in the U.S. and the market
leader for hybrid cars in the premium segment. Its success is built
on a strong reputation for quality and price points that are lower
than other European imports. In Europe, sales performance was
weak due to its lack of diesel-powered models in the range (unlike
BMW and Mercedes, both offering highly popular diesel engines)
and the fact that its cars are still sold through Toyota showrooms.
97
3,154 $m NEW
PUMA
PUMA put its best foot forward to compete against Nike and adidas.
It has diversified and expanded its range with its new fragrance,
Urban Motion, and a new women’s PUMA sailing line. Taking cues
from adidas, which enlisted Stella McCartney’s design efforts,
PUMA’s collaboration with Alexander McQueen received buzz.
Recently, it took this a step further with its acquisition of the Hussein
Chalayan fashion label. Chalayan, who won Best British Designer
of the year twice, will supervise the creation and design of PUMA’s
Sportfashion collection.
99
3,094 $m NEW
Polo Ralph Lauren
The brand’s lifestyle appeal continues to allow it to develop and
expand products across price tiers and markets without dilution.
Although some may deem Polo Ralph Lauren’s role as the official
outfitter of the U.S. Olympic team as more elitist than athletic,
sponsorships such as this and Wimbledon help to build the brand’s
image globally. This year also saw the launch of an iPhone
application that lets users experience the glamour of the Ralph
Lauren Collection by allowing viewers to look behind the scenes
with its backstage pass photo gallery.
Going forward, Lexus is actively trying to move away from its staid
image by positioning itself as high performing, sporty, and exciting.
To do this, it has launched a new “F” range (which stands for
“Flagship”). The first model is the sporty Lexus IS F which retails for
US $56,000. Several more F models are in the pipeline, including
a luxury sedan and an SUV-wagon crossover. The success of this
initiative remains to be seen.
98
3,095 $m NEW
Burberry
Burberry has continued to tap into new markets. It just launched its
first children’s wear stores in the U.S. and a new headquarters in New
York on Madison Avenue. Likewise, sales rose not just in the U.S., but
also in Asia Pacific, the Middle East, and Africa. Burberry’s enhanced
focus on denim represents an attempt to diversify by attracting
a younger and trendier customer. While sales driven by a strong
increase in the outdoor and accessories categories grew enough to
secure it a place in this year’s rankings, discounted products have
largely driven Burberry’s profits, which can undermine the equity
built up in the brand.
100
3,081 $m NEW
Campbell’s
Campbell’s saw big success with its continued promotion of its
lower-sodium soups, which launched last year, targeted at a health-
conscious, female consumer. With 85 lower-sodium products
already, Campbell’s expects to introduce even more in the next
months. A focused marketing campaign that positioned it as an
iconic, nutritious, and low-cost meal solution stemmed some of
the competition it faces from private label brands. So too did its
collaboration with Kraft Singles to promote soup and grilled cheese
sandwiches as a wallet-friendly meal using coupon inserts. This year,
Campbell’s also struck a rare partnership with the film, The Tale of
Desperaux, which created some buzz. The company’s plan to
aggressively employ shopper insight data to ultimately connect
with and influence shopper at point of sale should put Campbell’s
in a good position for years to come.
Interbrand Best Global Brands 2009 I 49
Industry Insights Technology
The Pace of Innovation
Charting the rise and fall of key sectors In technology, innovation and investment have fueled new
capabilities,creating opportunities in adjacent sectors. This is
keeping enthusiasm going as brands conquer unexpected territories.
Luxury In the home, demand for flat panel televisions has been stimulated
Financial Services
by quantum leaps in technology and price cuts. Samsung and Sony
are leading the charge with an increased quality of energy-efficient,
Consumer Packaged Goods
cheaper LCD (and emerging OLED), and premium designs. Big-screen
Retail high-definition viewing is now widespread and redefining the terms
Automotive of entertainment. In 2010, in-home 3D technology from a consortium
led by Panasonic will drive further interest in the category.   connected technology fields. Another example is Oracle’s surprise
Technology
Food and Beverage In mobility, experiences are getting richer and richer: from texting,
to listening to music, to viewing personalized content, to gaming.
Entertainment is anytime and anywhere and innovation makes
400 these devices truly indispensable. Netbooks, which are priced lower
than notebooks, push functionality at an attractive price point.
While these devices are positioned as value products, they provide
premium benefits (chic style and design, computing anytime and
anywhere). In this category a lower price point does not always
equate to “value.”
350
Software innovation has contributed to the importance of usability
(ease of use), integration (connectivity across television, computer,
and mobile phone platforms), and experience (fun to use) as
important drivers of demand. Microsoft hopes to find new oppor-
300 tunities by bringing its gaming, entertainment, and other services
to the PC, phone, and TV. The access to content throughout our day
is also making cloud computing a reality, changing how we interact
with software. Leading brands Google, IBM, Microsoft, and Amazon
are defining the parameters and the discussion is moving to the
250 65,539 $m points of differentiation.
Most computer services brands are creating new drivers of demand
78,829 $m by trying to integrate customer participation into product develop-
ment to obtain greater brand relevance. Leading brands like IBM,
SAP, HP, and Cisco support user education programs and train other
200
companies in these newly developed products.
96,863 $m
108,178 $m Technology continues to change how we live, work, play, and how we
communicate with others. It is woven into the fabric of our lives. We
have grown to depend on it–from devices in our Nike shoes connected
150 to our iPods that help us track, monitor, and analyze our health
routines, to how we receive and share information with others.
Apple continues to lead. By allowing individual innovation on a plat-
form that is no longer locked and loaded with the same functionality
forever, the iPhone delivers upgradeability, fun, and usefulness. At 99
cents a download in the U.S., the pricing model is spot on, making it
very low risk for the consumer. In essence, the devices we “wear” are
becoming a part of our personality and expressions of self.
Like Apple, the traditional lines between categories in the sector
continue to blur. Companies are moving beyond their original
domain, looking for new opportunities to branch out into the inter-
snap-up of Sun, in which it gained control over Java and the Solaris
OS and consolidated its position as an integrated provider of
everything from applications to disks. HP’s expansion into computer
services through the acquisition of EDS is another.
As companies stretch their resources, the attention turns to the
master brand and its ability to stretch across very different spaces.
Businesses are shifting their messages from their sophisticated
technology, to ones that focus on developing strong emotional
connections with their audiences. Intel just recently launched a new
advertising campaign, “Sponsors of Tomorrow” which spotlights
the company’s role in innovation rather than any specific products.
Xerox rebranding efforts have provided a great push toward a more
emotionally charged message.
If information is power, the power is shifting from a centralized
source to a decentralized one. The most recent events in Iran are
a proof point of how technology is becoming the equalizer of
societies. Blogs, Twitter, and social media are breaking the boundaries
of countries, providing a window to a world that governments
can no longer control. Social media is also impacting how we view
brands, and advocate and make our choices. At the same time,
companies like Facebook, MySpace, and LinkedIn have yet to find a
way to effectively monetize content. Ad targeting is still fairly
embryonic, lacking focus and tailoring.
The pace of innovation is not expected to slow down, nor will our
imagination for what is next. After all, what is possible today was
not even imaginable two years ago. In many cases the new
opportunities are not evolution but radical change. Those brands
that dare will win; they’ll remain the key players of this challenging
but exciting new time.

133,030 $m
304,027 $m
100
115,041 $m

50

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009

Brand Value Index: 2000 = 100

Interbrand Best Global Brands 2009 I 51

Energy
Urgency Demands Innovation
You could not get through 2008 or the first quarter of 2009 without
seeing the headlines on gas prices. Price volatility across all forms
of traded energy has been severe. In some ways, it has contributed
to the deepening recession. Volatility in price proved to be a deter-
rent, undermining a consistent approach to policy making, stoking
inflation, and contributing to a lack of confidence in the market.
What was different about 2008 was the sheer intensity of
fluctuations–for example, oil prices increased steadily early in the
year, exceeding US $140 per barrel in early July followed by a
collapse of more than 75 percent by year-end. According to BP, “over
the whole of 2008, average prices for all forms of primary energy
increased significantly, with annual oil prices rising for a seventh
consecutive year, a first in the nearly 150-year history of the oil
industry.” In a striking contrast, global energy consumption has
continued to climb (at a slower pace but an increase nonetheless),
and the demand for coal and oil has never been higher.
Renewable energy has been a key talking point for all governments
and a major platform for U.S. President Barack Obama. However,
alternative sources of energy still play only a small role in the broader
context of global energy consumption. In short, we cannot innovate
fast enough. Nor can we innovate in a scalable way to accommodate
the rate of increase in demand–at least not yet.
Brands in the energy sector have reacted in different ways to this
unpredictability in markets and sentiments. Those in the oil and
gas industry have been forced to clearly demonstrate their commit-
ment to climate change and communicate it through a strong visual
and verbal vocabulary. For utilities, brand management is relatively
uncharted territory. As a result, utilities have been struggling with
engaging consumers through their brand.
52 I Interbrand Best Global Brands 2009
The energy sector is bracing itself for a time in the future when
resource depletion will have reached the end of the road. Finding
new energy sources has an unpredictable time frame and scalability
is suspect. As a result, the debate in the industry has evolved from
finding more energy resources for the future, to less wastage of
existing resources, to keep up with the sense of urgency.
Oil and gas brands like BP are promoting patented technology such
as Invigorate to help lower the level of exhaust emissions including
carbon monoxide and unburned hydrocarbons by keeping your
engine clean. “A cleaner engine means cleaner air.” Along the same
lines, Chevron has Techron, its answer to cleaner engines and there-
fore cleaner air.
Urgency, combined with the volatility and uncertainty in this sector,
has been the most potent catalyst for spurring innovation–not
just within the industry but also with brands that would once have
been considered outliers. Brands like GE (Smart Grid), IBM (Smarter
Planet solutions), and AT&T (partnership with SmartSynch) are all
engaged in innovation directly or indirectly through leveraging their
core capabilities.
Consumer Packaged Goods
The United National Climate Change Conference in Copenhagen in
Kudos and Cautions
December 2009 is ambitiously striving for a global agreement,
incorporating all the countries of the world as it relates to green-
To combat the recession, consumer packaged goods brands have Coca-Cola. Kellogg’s and Post cereals have also been simplifying
house gas emissions. The energy sector is front and center of the
made a number of moves to cater to consumers’ search for value. frequently over complicated packages, demonstrating that less can, in
climate change debate by the nature of the industry. This represents
Some have been more successful than others. fact, be more. It will be interesting to see how lasting this trend proves.
a tremendous responsibility, but it also opens the doors wide for
endless opportunities. The sector has the ability to directly influence
The most prevalent is the rise of the private label brand, led by retail “Emotional branding,” which became a hot trend several years ago,
the climate change dialogue and regulation, affect consumer choices,
giants such as Wal-Mart, Tesco, Carrefour, and Target. Consumers when companies sought to connect with consumers more profoundly
and drive innovation for future generations to thrive. A number of
who are looking for more for less continue to gravitate towards at the shelf, prevails. Ownable patterns and textures have become
brands in this sector have clean slates from which to build reputations–
these products. Unfortunately, in the U.S., this still represents the order of the day for savvy brands in personal care, paper goods, and
a clear point of view on climate change is a good way to begin.
a missed opportunity, as many retailers are still following the tired high-end beverages. These distinctive elements are defendable and
and expected formula of emulating national brands, rather than become immediately synonymous with a brand in the same way that
learning from the successful European model of developing a new a stylish purse with a repeat logo does for a prestigious fashion house.
vernacular and creating destination brands in their own right. Some
leaders are emerging (Target’s Archer Farms and Stop & Shop’s This year, marketing departments also officially began to recognize
Simply Enjoy), but there is still no clear U.S. benchmark. As private the value of the male shopper. He is no longer relegated to the
labels continue to gain steam, it will be interesting to see how many lowest forms of predictable marketing messaging. A new language
brands will be forced to move toward private label design language, of communicating to men, while still in its infancy, has been
rather than vice versa. showing interesting signs of maturing beyond the predictable use
of packages emblazoned with phallic shapes, semi-naked women,
Products such as Oreo cookies and Ritz crackers evidence another famous sports figures, and overtly aggressive language. Evidence of
trend, and one that often goes hand-in-glove with the growth of new insights into the purchasing needs and behaviors of the male
private label. These brands are “dumbing down” their brand’s packaging shopper is beginning to emerge in male grooming products such as
to fit the format of a specific retailer’s needs. In essence, the brand Gillette, NIVEA for Men, and Neutrogena.
becomes a semi-private label brand and risks looking like a poor relation
to the original at shelf. Other than the ability to maintain shelf presence Finally, and perhaps most concerning of all CPG trends, is the con-
and distribution, the benefits are unclear. tinuous lack of respect for brand equities as brands move forward
in their design development. The Tropicana fiasco will become the
Additionally, as a response to the meteoric rise of the Method brand benchmark of how not to redesign a package. Sadly, Tropicana is
in the U.S. and overt green messaging in Europe, we’ve seen label merely the poster child of design for design’s sake. What seems in
simplification becoming prevalent in the detergent, beverage, and hindsight to be such an obvious error is not so obvious in reality.
cereal aisles. In an all-too-predictable game of follow the leader, It was not just removing the orange and replacing it with a generic
many U.S. brands endeavored to emulate the Method brand at shelf, glass of juice that was problematic. Tropicana’s equity in the U.S. is
despite a differing message and promise. Still, this category sim- in a package that features the orange in conjunction with a red-and-
plification can pay off when it is executed well, as evidenced by the white-striped straw. Think of it in terms of a comedian and straight
classic, clean package designs for Bud Light, Gatorade, and man act: One cannot operate without the other.
Interbrand Best Global Brands 2009 I 53
Automotive
Smaller, Greener, and More Efficient

The economic crisis made 2008 the automotive industry’s worst year since 1992.
While sales were on track in the first half of 2008, the situation skidded off course in
the second half. Carmakers worldwide had to reduce production dramatically as the
demand for new cars in Europe and the U.S. collapsed. Growth in emerging markets
softened, and high prices of raw materials led to further erosion of profit margins.
Mass luxury brands like Mercedes-Benz, Porsche, and Lexus–and even ultra luxury
car manufacturers like Bentley–had to cope with a remarkable drop in sales.

As a consequence of the crisis, governments in the U.S. and Europe set up generous
aid programs to support the struggling industry. GM and Chrysler were protected
from bankruptcy (Chrysler was later partially bought by Italian carmaker Fiat), and
companies like Opel and Saab asked for taxpayers’ money to stabilize their embattled
balance sheets.

Market turbulences also had a strong impact on the brand portfolios of many
carmakers, forcing companies to sell their weak brands or even stop producing them.
By doing so, they aim to focus their resources on those brands that still resonate with
customers. The “New GM” dispensed with four of its 13 brands: Pontiac, Saturn,
Hummer, and Opel. Ford sold its iconic brands Jaguar and Land Rover to India’s Tata
Motors. Volvo was also on sale for a while but did not find a buyer.

Car buyers not only cared about their wallets, but increasingly about environmental
issues. Due to a rising public awareness of climate change and the ongoing
tightening of fuel-efficiency standards by governments around the globe, automakers
had to meet profound challenges regarding their model policy. With gasoline prices
topping US $3 a gallon, fuel-efficient cars saw a breakthrough, even in the U.S.,
where this segment had only played a minor role. Companies like Audi and Mercedes
undertook extensive efforts to reintroduce clean and high-mileage diesel engines to
the–until recently–gasoline-oriented U.S. market. Sales of BMW cars with highly
efficient engines, Brake Energy Regeneration, and Auto Start Stop function (as part
of its EfficientDynamics offensive) topped the US $1 million mark worldwide.

Beyond the optimization of combustion engines, the development of entirely new

driving technologies became a major issue for the industry. Provoked by the success
of the Toyota Prius, virtually every major car producer has been pushing forward the
development of hybrid cars. Nissan wants to add a full electric model to its fleet in
2010, while other major car companies are planning to follow suit within the next
three to five years.

Some other major changes in the model policy of the industry are already observable
today. Large engines like Ford’s venerable V8 are being replaced by turbocharged
six-cylinders. And small 1.2-liter engines, like the one powering the new VW Polo,
unleash over 98.6 BHP. These tiny cars are even gaining popularity in the bigger-is-
better U.S. market. U.S. sales in the compact-car segment that includes the smallest
models like Toyota Yaris, Honda Fit, or Smart rose 33 percent, while sales of large
SUVs decreased 5 percent. Small SUVs are increasingly popular, though, with the Opel
Antara, Peugeot 4007, VW Tiguan, and others getting a large chunk of the market.
In fast developing economies, there’s high demand for low-budget microcars like the
Tata Nano or the Dacia Logan.

The car industry is reinventing itself to remain or become profitable despite explod-
ing R&D costs to produce smaller, greener, and more efficient cars. In the near future
carmakers will have to continue to form alliances or consolidate and reorganize their
brand portfolios to meet the challenges of tough markets characterized by perennial
overproduction and more cost-conscious car buyers looking for niche products.

54 I Interbrand Best Global Brands 2009

Financial Services
Putting a Price Tag on Trust
Brand value has never before eroded as quickly as it has in the
financial services sector during the 2008–2009 period. As a group,
financial services brands have lost a third of their value in a matter of
months. Our March 2009 Financial Brands Survey shows that many
financial services brands lost their ability to drive choice, loyalty, and
confidence, resulting in significant “money in motion” among retail
and institutional clients.
At the height of the crisis, when customers’ trust was at an all-time
low, each and every brand was affected by the general mistrust
prevalent across the industry. Those inside and outside of the sector
shared the perception that the financial system was responsible for
the crisis, leaving no brand untainted or unchallenged to maintain
its reputation.
Today, as the marketplace and consumers’ lives regain a sense of
stability amidst lingering uncertainty, we can begin to peer through
the battlefield smoke and see what impact the past year’s events
have had on the sector.
Two of the top five U.S. investment banks have vanished, and a new
rank order is emerging across the global financial markets. We see the whole, by demonstrating ethics, good corporate citizenship, and
financial system resetting into a new three-tier system of financial
services brands.
Standing Cavalry
Clear brand winners are the titans who remain strong after the
calamity–in this case, Goldman Sachs and JPMorgan Chase. With
every crisis comes opportunity, and these brands have swiftly picked
up market share in a narrow window of opportunity. They were able
to adjust their brands to fulfill new leadership criteria and are now bull market mentality, there is a subtle yet profound change in how
expected to define the future playing field for the industry. Their
performance and actions will define what it means to compete in the
financial services sector going forward.
Brands that played underdog in the old world are fighting for their
place in the top tier. With limited legacy but strong business funda-
mentals, players like Credit Suisse, Santander, and Barclays are
seizing the moment amidst the reordering of brands. They are
moving upward in rank and finding a distinguished seat in the game
as the cards fall into place.
56 I Interbrand Best Global Brands 2009
Down-but-not-out
Morgan Stanley is a good example of a “down-but-not-out” brand.
It is still fighting to regain its former prominence and reestablish its
position as a leader. Unlike “The Fallen” (detailed below), these
soldiers have had their share of rough-and-tough blows, but have
been slower to regain their balance afterwards. As one of the last
two U.S. investment banks to convert to bank holding companies,
the Morgan Stanley brand is a mix of its stalwart legacy and new-
world struggles.
The Fallen
It’s no surprise that in the disaster, destruction hit home harder for
some. Citi and UBS are the most prominent examples of those that
have been plagued by business problems–problems that have
impacted trust and therefore eroded business and brand value.
Although this depiction of the industry paints some brands on top,
truthfully the entire industry has been tainted, and consumers’ trust
in the financial system has not yet been rebuilt. The true leaders of
the financial services sector will be those brands that assume
responsibility for rebuilding the image of the financial system as a
integrity in business conduct. True victors will lead by example and
transparently show how they rebuild themselves to prevent a future
disaster like the recent financial crisis.
Most of the financial services brands’ recent advertising campaigns
focus on strength and stability, something that may prove to last be-
yond a momentary marketing campaign. While the cynical may say that
the world will quickly revert to the impetuous motivations of a 2007
customers are going to evaluate their service providers going forward.
Future financial leaders will still provide the same types of service, but
deliver them in a more consistent and thoughtful manner–and always
with integrity. This, in the new world, will be the real differentiator.
As Allianz CMO Dr. Steven Althaus says, “The brand will be increasingly
‘managed,’ not just communicated and orchestrated. Brand
management will evolve, the role of the brand will continuously
increase (as a sign of identification, navigation, and orientation),
and it will be treated as a major financial asset.”
Business Services
Due for a Shake Up
Business service firms suffer from underdeveloped brand expertise.
Marketing costs are often perceived as a necessary evil, and are not
generally considered by management to be a strategic, revenue-
driven asset. Since they do not often seek out leading-edge thinkers
for the marketing function, business services brands rarely entertain
innovative approaches to brand building. In large part, many business
services brands have been held back by a shared sense that their
businesses, so dependent on expertise, judgment, and advice, cannot
benefit from the emotional “marketing mumbo jumbo” that branding
represents. These brands and their executives are due for a shake up.
The business services brands in our ranking are outliers for a few key
reasons. They have, more than their peers, forged a global identity
based on a clear brand idea. They have invested in their culture,
recognizing that their people represent the lion’s share of their brand
experience, especially as the revenue mix continues to move from
products to services. Lastly, they have behaved boldly, investing
strategic assets and R&D in spite of the crisis.
IBM leadership recognizes the necessity to lead by example, having
made values a priority from early days up to their recent “values jam”
initiative, while at the same time leading the industry in its pace of
technical innovation. Accenture has fostered a culture of high
performance and has used its six-years-running campaign with
Tiger Woods as the physical embodiment of customer promise
Health
Rethinking Business as Usual
Consolidation in the pharmaceutical industry has been grabbing the
big headlines throughout 2009 and continues to build momentum
behind a significant competitive reshaping of the industry. While
the biggest stories involve the Pfizer/Wyeth, Merck/Schering-Plough
and Roche/Genentech mergers, mid-size players, biotechs, and even
generics have also been active in M&A activity. As healthcare reform
reshapes the payer system and generic manufacturers, M&A is also
on the rise with the likes of Mylan/Merck KGaA and Teva/Barr Pharma
looking to take advantage of the change in policy and reimbursement.
These newly combined entities are geared for growth beyond the
area of therapeutic specialization. Through a diversification of
holdings (from human health to consumer goods) and an increased
focus on developing markets, these merged brands should find the
aggressive growth that they once sought through the now-defunct
blockbuster product model. The drivers of this activity vary by competing
strategic approaches, but the result is the same, with the remaining
competitive field smaller and significantly more concentrated.
Certainly, for an industry more accustomed to turmoil than triumph
in this decade, pharmaceutical has gone through a painful, often
public, process of fundamental reform. The global economic crisis
and collapsing financial systems may have drawn attention elsewhere,
but the goal to create significant structural and business model change
remains. In the context of a broad business environment, pharma is
being forced to rethink “business as usual.” (President Barack Obama’s
recent healthcare reform proposal in the U.S., for example, has made
this all the more evident.) This means changes to healthcare systems
and delivery around the world, increased generic product competition,
to deliver high performance business results. Of course, the gold
standard of brand culture is Goldman Sachs’ “culture of excellence,”
14 principles that it claims are owned and internalized by every
employee. The financial and professional service company leveraged
this cultural reputation heavily during some of the industry’s
darkest moments.
The best services brands have stepped boldly through challenging
times. Thomson Reuters, Oracle, and GE all invested heavily in 2008
in both capability innovation and brand differentiation. SAP also
actively sharpened its brand promise. These brands recognize that
now is the time to crystallize a relevant, distinctive image in the
minds of customers.
In an economic environment where heightened emotions are at play
and trust is called into question on a daily basis, services firms need
to stand for something powerful, evocative, and meaningful, and
deliver it consistently through customer experiences. While many
customers may have pulled back on services spending in 2008, the
crisis has also forced them to reevaluate what types of partners they
will want tomorrow. When they do come back online, the services
players that have treated their brands as strategic assets, rather
than cost-saving opportunities, will stand to benefit from greater
customer trust and choice–and subsequently economic value.
low ROI from R&D investments, and heightened regulatory pressures.
To date, the industry has focused on managing corporate reputation
and public perception largely as a PR exercise, rather than clearly
articulating a market positioning from which to propel both business
objectives and purchasing behavior. This represents a fundamental
distinction between reputation management and brand manage-
ment. This lack of strategic pull through into brand positioning and
interaction is simply insufficient. Pharmaceutical brands must begin
to deepen the value of the customer interaction beyond product of-
fers that don’t live in harmony together, towards a more complete
solutions approach.
With an ongoing loss of exclusivity and an increasing role of both
generic and “branded generic” competition, a solutions based
approach becomes a commercial imperative. More and more,
generating value in this industry will be the result of rigorous portfolio
brand management, along with an evolving customer interface.
Corporate pharmaceutical brands need to demonstrate commitment,
deepen relationships, and develop another platform from which to
extend product brand equity beyond patent exclusivity. While many
are gearing up to take on broader stretch and relevance, they will
also need to increasingly support their brand and reputation with
the decision-makers in managed care.
Without question, 2009 has been a year of transformation–as much
as it has been a year of reform–for corporate pharmaceutical brands
in a global marketplace that is increasingly contextualized by politics.
Interbrand Best Global Brands 2009 I 57
Hotels and Hospitality
It’s All in the Details
2008 was a tough year for the hotel industry and 2009 hasn’t been
any easier. There’s huge pressure on businesses to cut costs and
spend where it really matters–which isn’t easy when, as one of our
clients put it, “in the hotel world everything is difficult and expensive.”
But hotels are here to stay. It’s a cyclical business and demand will
return. On a macro level there is a “flight to value” with Holiday Inn
Express and Ibis witnessing growth, while the Internet is increasing
price comparisons and facilitating user generated feedback through
websites like HotelChatter and TripAdvisor.
The eternal truth that drives this sector is that the company’s people
make the biggest difference to a guest’s satisfaction: service creates
value. Brands like Ritz Carlton with its credo and Holiday Inn with
its “Stay Real” service promise have always made employees the
essential component of their brand experience. Asian brands should
have an advantage, as anyone who has flown with Singapore Airlines
(consistently voted the airline of the year) knows that its style and
quality of service is appreciated around the globe and the same is
true in the hotel sector. Consistency, attention to detail, and subtle
thoughtfulness speak volumes against the functional experience
of service.
Those hotel brands with capital will be looking to enhance their
position. The downturn presents a huge opportunity for brands like
InterContinental Hotel Group (IHG), Marriott, and Accor to capture
down-trading customers. All three companies have been pushing
loyalty schemes to keep regulars in the fold, and are building shared
service centers to maximize buying power that drives down costs.
IHG has committed nearly US $1 billion to the enhancement of the
Holiday Inn brand worldwide, particularly in emerging markets.
Marriott’s brand value (the only major hotel brand in the 2008 BGB
rankings) has declined below the threshold for the top 100 Best
Global Brands in 2009. The two industry benchmarks that drive hotel
performance, REVPAR (revenue per average room), and occupancy
rates, fell significantly.
58 I Interbrand Best Global Brands 2009
Despite the desire for value, there will always be the high-end luxury
sector. Heston Blumenthal was tempted out of the rural countryside
of England and launched his first hotel venture in London with the
Mandarin Oriental in Hyde Park.
Although Dubai is feeling the pinch, this didn’t stop it from opening
The Atlantis, a US $1.313 billion, 1,539-room resort. It welcomed its
first guests in September 2008 with four celebrity chef restaurants
and prices from US $900 to US $3,775 per night.
Both these concepts demonstrate the continuing shift of hotel
operators to incorporate elements of customer experience (along
with spas) into their general offer. Guests increasingly appreciate and
expect this wider view of their own brand world, as it demonstrates
that the hotel brands understand and acknowledge their fluency in
premium dining.
User generated content is rewarding and punishing hotel brands for
their performance. Ratings brands like TripAdvisor and Google Earth
help guests judge hotels based on others’ feedback before making
a purchase decision. They also expose a hotel’s real proximity to the
beach or city. In order to maximize this new world of open guest
dialogue, hotel brands need to operate more as “influencer brands,”
by pushing their communications model.
Environmental interest continues to increase with some hotels
developing “eco-travel” offerings. The only global sustainable tourism
certification program is the Luxury Eco Certification Standard
(LECS) from Sustainable Travel International (STI). Evason resorts
in Southeast Asia have been enormously successful in balancing
global service excellence with local and ecological sensitivity. The
mantra: “To create innovative and enlightening experiences that
rejuvenate our guests’ love of SLOW LIFE” offers a beguiling alternative
to the “power resorts” of the Four Seasons. The key to successful
ecological resorts is the authenticity of their experience and their
long term, sustainable relationship with the community. Expect to see
more of Evason when the economy bounces back.
Luxury
Craftsmen and Connoisseurs
“The most successful and enduring brands are those built over the long-
term, where a consistent and cohesive set of values is established in the
minds of your customers. From that moment onwards you should never
compromise on these values for short-term gain.”– Patrizio di Marco,
CEO Gucci
In the past decade, the “luxury” label has been placed on some of
the most diverse offerings, sometimes blurring into the concept of
premiumness. The ideas of better and best have never been so
widely confused.
On the one hand, various luxury brands have reached down, trying
to combine their iconic status with the goal, or need, to address
a wider public. In the opposite direction, the rise of the ultimate
oxymoron, “accessible luxury,” has seen brands with a lesser history
strive to become self-proclaimed objects of achievable desire. This
convergence has transformed luxury–once a self-defining status–
into a bundle of contradictions.
Enter the crisis. The waves of the great swell have washed into what
was thought to be possibly the one safe haven–the shores of which
may now be completely reshaped.
Many key players have absorbed a massive economic impact, relying
on emerging markets to make up for disappointing sales in mature
markets. For example, Asian consumers have caught the opportunity
to express their status through their favorite items at discounted
prices or through cheaper channels like discount outlets and the
Internet. Western markets, on the other hand, have suffered from
the combination of the disappearance of large segments of wealth
and a change in people’s mindset.
The downturn has shown that you can either exist in people’s dreams
or their reality, but not both. Some brands, like Ferrari, have chosen
to control growth and limit commercial potential, holding on to their
legendary status. Others, such as Armani, have deliberately traded
in their exclusivity for a wider audience and higher volumes, thus
abandoning the idea of luxury. Two opposite models–but two clear
strategies, rewarded by respective success.
Most importantly, consumers’ reactions to the crisis have also
proved another point: Luxury is not a category you decide to be in,
but a side effect of excellence. Myths are based on facts, never the
other way around. In the age of Photoshop, avatars and open-sourcing,
what emerges as being truly extraordinary is authenticity. This is the
key driver of demand and therefore value.
This has affected different brands in different ways. Some self-
defined luxury brands born from the “luxury for all” manifesto are
being pushed out of the market, or are no longer recognized as
being worthy of their price and asserted status.
Some well-established brands have been forced to look back at the
origin of their prestige, recapturing or emphasizing the essence
of their legend. Louis Vuitton, always walking the line between
ubiquitous success and dangerous banalization, has invested in reaf-
firming its status as a “classic” through advertising and inspired new
lines. Prada has strengthened its cosmopolitan art-chic positioning
through high profile initiatives like the Transformer center in Seoul.
For other brands, the demand for archetypical purity comes as a
well-earned reward for their consistency. Hermès has continuously
moved along a very clear path, based on craftsmanship and the
pursuit of quality across an intelligent portfolio of products. Rolex is
the model for those who believe in lack of compromise as a perennial
source of prosperity.
The quest for authenticity has also affected sales channels. All
major brands–from Gucci to Prada, from Burberry to Vuitton–have
invested in the worldwide expansion and/or the realignment of their
own retail networks. When it comes to protecting, recapturing, and
expressing a brand’s integrity,the retail touchpoint is as crucial as the
product itself.
Where all this may lead to is fascinating. Will the future of luxury
be its past–métiers, numbered series and boutiques rather than
positionings,volumes, and networks? Will true luxury be the expression
of the producer’s excellence rather than the consumer’s aspirations?
Will it be about signatures as we knew them rather than brands as we
know them?
If that is the case, we may soon face two scenarios. Either consider
a much stricter meaning of the term “luxury,” or accept its current
definition but at the same time acknowledge the rise of an aristo-
cratic circuit of authenticity, art and science, that brings together
craftsmen and connoisseurs rather than brands and consumers.
Telecommunications
Mission Impossible?
Many might expect to see telecommunication brands among the
top 100 Best Global Brands. The industry deals with one of the most
fundamental human needs: communication. Without it, mankind,
individually as well as socially, cannot exist. Yet, brands in this
industry have not yet managed to conquer consumers’ hearts and
minds internationally. They remain widely seen as utilities providing
technical access to mainly local telecommunication networks.
A number of factors are shaping this perception.
 
First, almost all telecommunication companies have gone through
numerous and continuing changes in their identities during the last
two decades. This has created the customer perception that they
have not fully developed their position as brands. They lack a clear
idea focus and a well-defined brand personality to guide their
behavior along the customer journey.
Telecommunications companies seem to lack a stable conviction of
what they ultimately offer. They have, for quite some time, grappled
Retail
Survival of the Fittest
“The first and most critical element is to define values that make the brand
stand out and define the guardrails for everything you do and don’t do under
the name of your brand.” - Erich Stamminger, President, adidas brand
We live in a world with too many stores and we are witnessing a
dramatic thinning of the retail herd by the dual forces of a changing
consumer and a slumping global economy. When times are good,
retail brands might get along by emulating others: copying
everything from their assortment to their visual look and feel and
real estate strategy. However, when times get tough it’s the great
retail brands that win–the ones that innovate, understand the DNA
of their brand, and connect with their customers. The “me-toos” not
only don’t win, they become extinct.
Consider the lack of differentiation in a number of retail segments in
the U.S. Brands like Pottery Barn, Restoration Hardware, and Crate
and Barrel have become more and more alike and this has resulted
in a blur of mediocre familiarity. Unlike the European brand, IKEA,
which stands out from these three due to its low cost and stylish
signature merchandise, these three brands have struggled with
putting a stamp on the world. While it may not have been IKEA’s
best year–it saw a drop in sales–its distinctive offering puts it in a
good position for when the economy turns.
Brands like adidas, that have long-term ideas that drive
distinctiveness in the customer’s mind and listen to their customers,
have flourished, even in these tough times. Zara and H&M, which
offer stylish products at a low cost, have not just done well because
of their lower-cost offering; they have also carved a lasting niche
with a strong and differentiated image. In comparison, Gap has
fallen behind again this year. Overwhelmed by lower-priced Old
Navy and higher-end Banana Republic, Gap’s lack of a defined niche
has resulted in a diluted brand, despite attempts to reinvigorate.
60 I Interbrand Best Global Brands 2009
with whether they should or could be content providers rather than
just carriers. As they advanced into that space, retreated, and then
started again, they have left their customers surprisingly uncertain
about their offer.
Additionally, most telecommunications companies have strong
national roots and have only recently extended their footprints
internationally. Alongside this process the industry has seen a large
number of mergers and acquisitions. This has made creating a
unified and strong brand a challenge.
 
Hardly anything has changed our lives as much during the last
decades as the development of communication technologies. In that
sense telecommunications brands have certainly changed our world.
However, these brands have not yet reached the status that should
follow from this influence upon our lives. This is because it is an
industry still in its infancy. The sector still has a long way to go before
it achieves its historical mission.
Some retailers understand the advantage of a strong brand in
a recession. These retailers are investing more than ever in branding,
and offering the latest trend products as private labels, dressed in
attractive packaging, located in the hottest spots in the store. Lidl,
Mercadona, ALDI, Dia, Costco, Wal-Mart, and Target are all commer-
cializing inexpensive private label products under their own brand.
Then there is the luxury retail market, which saw a 15-20 percent
decline during the first half of 2009. Many luxury shoppers feel
uncomfortable carrying the latest brand name bag and have either
limited luxury purchases, or been discreet about them. Others are
reducing short-term spending to save for serious luxury items from
brands like Louis Vuitton and Prada.
In a downturn, customers don’t stop buying. The desire and need for
satisfaction is still there. A strong brand with a strong proposition
may even have a chance to capture a share of customer choice that
was previously unavailable. And yet, while a great brand image can
help reduce the negative impact on gross margins, it doesn’t change
the fact that with insecure consumers and an industrywide
explosion of competitive pricing, many more retailers will need to
rely on discounts to loosen purse strings.
Promotions to move merchandise are unavoidable in this climate,
but these are temporary conditions. Retailers cannot overlook the
possibility that heavy promotions may cause some loss of brand
equity. Retailers that will win when the economy recovers are those
using brand management tools to find and create new ways to
connect with their customers. You can manage through the short-
term on price, but the long-term will be won on brand propositions
that are inspiring, compelling, and differentiated.
Media
A Brave New World
The media sector landscape is being redefined by non-traditional
players, and is facing pressure from all sides. Technology companies
such as Google, Twitter, and Facebook are entering the content
creation and delivery arenas and giving users the power to dictate
their means of media formation and consumption, threatening to
render the old media brands obsolete.
As retailers, automobile dealerships, and small businesses fold in
hoards due to the recession, regional newspapers that depend on
local businesses for ad revenue have followed suit. In the U.K. 60
out of 1300 of Britain’s local newspapers have closed. In the U.S.,
even reputable, big city newspapers like Chicago Tribune (filed for
bankruptcy protection) The Boston Globe (for sale), and The New York
Times (shrinking staff and content) are at risk.
Meanwhile, magazines face the decline of both advertising revenue
and subscriptions. Digital media faces the challenge of providing
defendable ROI numbers. In order to command scarce advertising
revenue, brands need to justify their value to both audiences and
advertisers. That means staying ahead of the competition, and both
anticipating and responding to audience demands.
Recent media trends demonstrate the increasing importance of
relevant, timely content. The brands that remain strong are the ones
that deliver a relevant brand message backed by targeted content.
Thomson Reuters continues to meet the demand for relevant
content head on with flagship brands that cater to specific audiences,
but still operate under the Thomson Reuter’s umbrella. This ensures
full audience engagement and acceptance.
If a brand is unable to deliver relevant content, users will simply find
it elsewhere, or create it themselves. Customized content is king.
User-generated content (blogs, podcasts, online communities, wikis,
and social networking) is rising at a faster rate than editorial media.
Social networking websites and microblogging sites make it easier
than ever for customers to cherry pick and aggregate content. This
holds true in the B2B and the B2C world. Media brands need to tailor
to audience needs or else they’ll be forced out of the loop by social
media tools.
Leading brands that understand this have developed ways to cull
consumer insights. MTV Networks actively mines the web for user-
generated content related to MTV in order to better understand
how customers engage with and relate to the brand. These insights
inform the brand, and allow MTV Networks to customize its
offering based on real-time audience feedback.*
The rise of social media means brands must increasingly navigate the
tension between maintaining brand values, and also allow users the
freedom they increasingly demand. The tension is most evident in
companies with traditional core values such as Disney, which allows
users flexibility through heavy moderation. Its user-generated content
initiative, “U-Rock,” allows users to upload music videos that they
created and allows fans to vote on their favorites. However, each and
every video is screened prior to appearing on the Disney.com website.
While this tactic has been successful to date, Disney will need to
innovate as its consumers become savvier and less tolerant of policing
by the brand. While it is important to manage the brand, finding the
right balance between protecting the brand and giving up control
will be critical for brands to continue to grow. Customers no longer
accept only being spoken to. Customer engagement now requires
sharing the reins of the brand.
In order to prosper, media brands must strive to forge an emotional
connection with customers to capture and hold their attention
through a myriad of content and delivery options. The traditional
value-add of media companies is no longer enough. Brands need to
be flexible and adaptive while still maintaining their brand integrity.
Success in the future will require brands to be proactive in shaping
the marketplace as well as reactive in addressing new and
unpredictable challenges and ever-growing customer demands.
* Interbrand’s BrandLogger successfully filters what is being said about the brand online, including
newspapers, scientific journals, websites, blogs, and groups. It extracts, assesses, and clusters
predefined terms or groups of terms to help businesses understand customers’ associations with
their brands.
Interbrand Best Global Brands 2009 I 61
 Food and Beverage
Back to Basics

“The most unpredicted factor that affected how we manage our brand in
the past decade was the abrupt, steep global economic downturn versus our
readiness to compete on value.”– Russ Klein, President Global Marketing
& Strategy, Burger King
In the last quarter of 2008, consumer food spending saw its sharpest
drop in 62 years, according to the U.S. Department of Commerce.
But while spending is down, food and drinks remain at the core of
many social occasions. People continue to consume, but they have
modified their spending habits to save money.
Consumers are trading dinners out for creating something from their
own kitchen, drinks at the bar for drinks on their patio, or an evening
out with friends for an at home potluck. With dining at home on the
rise, brands have reconsidered their touchpoints. There’s been an
increase in messaging about “restaurant quality” prepackaged foods.
Premium spirits brands have elevated the role that the package
plays, now that consumers are selecting their brand from a crowded
retail shelf.
Airlines This shift in consumption patterns creates an opportunity for the
new line of meals priced at US $1.50, while Kraft began advertising
its low-cost Kool-Aid powdered beverages for the first time in 11
years. With the major players, package innovations seem to be the
big news, as both Coca-Cola and Pepsi have introduced new package
designs. Coke introduced a smaller size package that retails for 99
cents in the U.S. and Pepsi refreshed its entire package line up.
In the alcohol segment, Stolichnaya has partnered with bartenders
to create recession-themed cocktails like the “rejected resume.”
Champagne brands continue to focus on their target market with
sponsorship of prestigious sports and fashion events.
Characterized by mature markets and low growth, the alcoholic
beverage industry struggles against heavy price competition. Beer
remains the industry’s top seller, but major brands are growing
slowly with margins squeezed because of higher costs for commodities
like barley, as well as increased power costs. As a result, many global
brewers are merging operations to reduce costs and gain market
share. Innovation and new launches are key to attracting new
customers, and China is seen as the hot market for growth.

Turbulence in the Skies
Even in good times, the airline industry is a tough business in which
to turn a profit. Airlines face a number of external factors that are
out of their control. These include huge capital requirements,high
operating costs, government policies, differing tax regimes, manu-
facturers, airport management, a reliance on ground operating
systems, strict aviation regulations, strong labor unions, pressure
from environmental groups, intense competition, and, of course, the
weather! The industry’s battle with emerging trends ranging from
continuing deregulation to pressure from environmental organizations
and governments has not helped matters.
The current conditions make it difficult for airlines to leverage their
brands. The fact of the matter is that when people shop for an airline
ticket, they are often forced to base decisions on price point, route,
schedule, corporate policy, or frequent flyer points–none of which
involve the brand.
Then came the recession. Already beset with rising fuel prices in
2007, consumer and cargo demand fell off a cliff in the second half of
2008, with the industry facing the most severe and now seemingly
prolonged economic downturn in its history. Airlines face vastly
reduced traffic, price wars, mergers and acquisitions, international
security concerns, airport disruptions, the threat of pandemic flu,
bankruptcies, industry consolidation, flight accidents, strikes, and an
unforgiving media. The International Air Transport Association (IATA) is
predicting that the world’s airlines will lose US $9 billion dollars in 2009.
The net effect of industry trends and the global recession is simple:
Customer expectations and their demands are changing. Prior to the
recession, consumers were more willing to pay high prices for non-
essentials. Convenience, comfort, luxury, exoticism, and discovery were
worth more. Desirability for a particular brand of air travel was created
by efforts that were experience based and formed around perks. The
offerings of some airlines were perceived to be of higher value than
others, as they made an effort to satisfy customers on these grounds.
food and beverage sector. However, with shoppers watching their
pocketbooks carefully, there is also increased competition and price
Most industries have taken a hit due to the recession. However, for
beverages, health is a greater concern. The U.S. has contemplated
point pressure from private labels, which grew 10 percent last year taxes on unhealthy beverages. The measure did not go far, but many
according to Nielsen. To compete, many manufacturers are high- people believe that beverages are a main cause of obesity. This has
Today, desirability and cost possess a diverging relationship. Any
lighting quality and health benefits, but most realize that now is the opened a door for brands such as vitaminwater and SoBe, which
small increase in cost makes the airline brand significantly less
time to build a connection with consumers to maintain loyalty. have attracted customers to their products with health claims.
desirable. Put simply, the customer’s perception of value has changed.
With cost now a strong restraining factor, customers evaluate more
Kellogg’s, for example, is engaging with customers through recipes, Health is a concern for fast food as well and innovation has been key
essential benefits: reliability, quality, punctuality, safety, and price.
coupons, and newsletters, while Campbell’s positioned its to attracting customers. McDonald’s has been able to capture new
They want more–more miles, more complimentary services, more
products as nutritious and low-cost meal solutions. Others are market share with its coffee bars and healthier offerings, while KFC
flexibility, and more promotions–all for less money. They are looking
creating smaller packages and focusing on a value message. has made a splash with its grilled chicken. As in other segments of
for bargains or are trading down. Airlines are seeing a huge decline
ConAgra Foods, which hadn’t advertised its Banquet frozen dinners the food and beverage industry, QSR is a value war, with giveaways
in the number and frequency of travelers and losing a major source
in more than a decade, launched an ad campaign last fall around its and 99-cent promotions everywhere.
of revenue. The obvious beneficiaries in this environment are the
low-cost carriers, and the future looks bright for those with robust
balance sheets.
However, for many traditional carriers, the economic downturn is
proving to be an industry catalyst, and many experts believe that
customer spending habits and airlines’ pricing and operational
structures will be permanently altered. This implies that airline brands
must incorporate a long-term perspective into their recession strategies
that goes beyond short-term tactical measures to trim costs such
as grounding planes, redundancies, wage cuts, passing costs onto
customers, pairing schedules, and closer airline cooperation.
In the long-term, the successful airlines will use this period of
uncertainty to redefine what value means to their customers. They
will know what factors are truly driving demand and will redefine
their brand strategies around a more relevant customer experience
across all key touchpoints of the customer journey.
Aviation winners will have to declutter from short-term cost-cutting
programs, listen very carefully to what their customers are saying,
invent new brand experiences for mid-term profitability, cater to
redefined customer needs in the long-term, and foster a strong internal
culture in order to deliver on these needs.

62 I Interbrand Best Global Brands 2009

Authors and Contributors
As Global Chief Executive, Jez Frampton is responsible for managing
the firm’s worldwide interests and enhancing its strategic and
creative offerings. He is a member of the Marketing Society, the
Chartered Institute of Marketing, the Market Research Society, the
Design Business Association, and the Institute of Directors. He is a
frequent lecturer on the subject of branding.
In his role as Managing Director of Amsterdam and European
Practice Leader for Interbrand’s Analytics team, Josh Feldmeth
helps to ensure that everything we do for clients, from strategy
to creative, creates business value.
As Senior Strategy Consultant in New York, Helen Isakovich
uses her diverse marketing and business background to address
clients’ challenges in the area of brand architecture, brand
strategy, and brand portfolio rationalization.
Andy Bateman is Chief Executive of Interbrand in New York. He
leads a team of world-class brand strategy, creative, and marketing
professionals, guiding some of the world’s most valuable brands.
Andy is frequently asked to speak on the subject of social media for
both academic programs and major publications.
Nora Geiss is Senior Consultant for Interbrand’s Verbal Identity
practice in New York. Her expertise spans naming, tagline
development, naming architecture, messaging, tone of voice,
brand engagement, and brand launch for B2B and B2C brands
in a broad range of industries.
Tom Zara is Executive Director for Interbrand in New York. He
is responsible for the management of brand strategy, corporate
identity programs, name changes, and launch communications.
His expertise in sustainability is invaluable to Interbrand’s clients.
CEO of Europe Jean-Baptiste Danet is responsible for the
management, performance, and development of 10 offices over
eight countries. He brings to life new disciplines and teams to
deliver the highest quality work, and is regarded as a top
commentator on luxury brands and their changing landscape.
Special thanks for contributions from our Brand Valuation leaders and industry experts including Julian Dailly, Iain Ellwood, Dr. Jürgen Häusler, Carola Jain, Federica Judica,
Cassidy Morgan, Dyfed “Fred” Richards, Greg Silverman, Nik Stucky, David Sun, and Christopher Wünsche. We also thank the Interbrand designers around the globe who
contributed photos to this report.
Contact Us
Jez Frampton
Global Chief Executive
Tel UK: +44 (0)20 7554 1183
Tel US: +1 212 798 7777
jez.frampton@interbrand.com
Lisa Marsala
Global Communications Manager
Tel: + 1 212 798 7646
lisa.marsala@interbrand.com
64 I Interbrand Best Global Brands 2009
Stuart Green is President of Asia Pacific. With more than 20 years
of experience across virtually every continent, he ensures that
Interbrand’s diverse and collective thinking leads to a distinct
customer experience for every client.
Manfredi Ricca, Managing Director of Interbrand Milan, is a
frequent lecturer and commentator on luxury brands. His articles,
interviews, and comments are regularly published in Italian
newspapers and financial magazines.
As Global Chief Strategy Officer, Leslie Butterfield oversees the
growth and development of Interbrand’s brand strategy
products and methodologies. He has written widely on the
subject of brands and is considered one of the leading thinkers
in the marketing industry in the U.K.
Bruce Dybvad is the President of Interbrand Design Forum and
Interbrand’s Cincinnati office. His global vision, experience, and in-
dustry knowledge have resulted in an exceptional creative process.
Download posters at
www.thebestglobalbrands.com
Kelly Crouch is Interbrand’s Brand Analytics Director in
Amsterdam. She guides the integration of analytics programs
and ensures insights are represented within strategic and
creative outputs.
Global Creative Director Andy Payne manages, enhances, and
develops Interbrand’s worldwide creative offer. He continues to
successfully build Interbrand’s network of creative excellence and
has contributed to some of the firm’s most prestigious projects.
As Managing Director of Interbrand in China, Jonathan Chajet
has helped create, enhance, and manage some of the world’s most
recognized brands. His expertise is invaluable to building brands in
the Chinese market.
Additional information on brands:
www.interbrand.com
www.brandchannel.com
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www.twitter.com/interbrandNY
For reprint permission of this report or
its articles, please contact Lisa Marsala.